Getting an SBA Loan for Homes for the Elderly

Looking for SBA loans for homes for the elderly? Try the SBA. This $750,000 homes for the elderly loan was issued by a Connecticut bank.

Getting a small business loan in Hudson, Florida was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Business Lenders, LLC, operating out of Hartford, Connecticut. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: NURSING AND PERSONAL CARE FACILITIES, N.E.C
HUDSON, FL 34667

SBA Loan Lender

BUSINESS LENDERS, LLC
50 STATE HOUSE SQUARE 5TH FL
HARTFORD, CT 06103

This lender issued this SBA bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8059 - Nursing and Personal Care Facilities, N.E.C

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

5/19/2006

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

SBIR Funding

SBA 7A Lenders in Hartford, Connecticut

Getting a Business Loan in Connecticut