SBA Loan from Mercantil Commercebank National As Helps Liquor Stores Company

An SBA loan from Mercantil Commercebank National As typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hollywood, Florida business owner got a $93,750 loan.

This small firm knew how to go about getting a business bank loan. Based in Hollywood, Florida, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Mercantil Commercebank National As, based in Coral Gables, Florida.

SBA Loan Borrower

COMPANY TYPE: LIQUOR STORES
HOLLYWOOD, FL 33024

SBA Loan Lender

MERCANTIL COMMERCEBANK NATIONAL AS
220 ALHAMBRA CIRCLE
CORAL GABLES, FL 33134

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5921 - Liquor Stores

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

5/9/2000

Loan Approval Gross Amount

$93,750

Loan Approval from the SBA

Of the total $93,750 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Mercantil Commercebank National As that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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