Firm Gets a Florida Bank Loan

Small business loans in Florida are tough to come by these days. We take a look at one Florida small business loan, provided by a Florida bank, that was approved by the SBA.

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 First Coast Community Bank. We've got the inside scoop on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: ART DEALERS
JACKSONVILLE, FL 32205

SBA Loan Lender

FIRST COAST COMMUNITY BANK
1750 S 14TH ST
FERNANDINA BEACH, FL 32034

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453920 - Art Dealers

Loan Approval Date

5/17/2005

Loan Approval Gross Amount

$162,000

Loan Approval from the SBA

Of the total $162,000 loan amount, the SBA guaranteed $121,500.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $162,000 loan. Remember, anyone can do it... so why not you?

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:

The Friends and Family Network

SBA 7A Banks for Fernandina Beach, Florida Loans

Where to Get an SBA Loan Florida