Growing Company Gets a Florida SBA Loan

Looking to get a Florida bank loan? This Florida entrepreneur got a bank loan, provided by a Florida bank that works with the SBA to help small business owners.

This company, based in Jacksonville, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Haven Trust Bank. We've got the inside scoop on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: APPAREL ACCESSORIES AND OTHER APPAREL MANUFACTURING
JACKSONVILLE, FL 32246

SBA Loan Lender

HAVEN TRUST BANK
6601 S POINT DR NORTH, STE 16
JACKSONVILLE, FL 32216

This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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.

NAICS Code

315999 - Apparel Accessories and Other Apparel Manufacturing

Loan Approval Date

5/4/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 11 employees. The SBA loan documents indicated that the loan would help retain 11 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Haven Trust Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Understanding Dilution

SBA 7A Banks in Jacksonville, Florida

Florida SBA 7A Lenders