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November 14, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Coral Gables, Business Loans > Mercantil Commercebank National As Coral Gables Business Loans > Auto And Home Supply Stores Loan | ||||
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Florida Bank SBA Loans
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Mercantil Commercebank National As SBA Loan to Auto And Home Supply Stores CompanyWant a Florida business loan? Here's one Florida business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Homestead, Florida, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Mercantil Commercebank National As, based in Coral Gables, Florida. SBA Loan Borrower COMPANY TYPE: AUTO AND HOME SUPPLY STORES SBA Loan Lender MERCANTIL COMMERCEBANK NATIONAL AS The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores Loan Approval Date 4/28/2000 Loan Approval Gross Amount $265,000 Loan Approval from the SBA Of the total $265,000 loan amount, the SBA guaranteed $198,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Mercantil Commercebank National As and they will explain how you can get an SBA loan for your company. 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. Related Links: Good Banks for Small Business in Coral Gables, Florida
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