Firm Gets a Florida Small Business Loan

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

This small business, 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 Wachovia Bank. We've got the inside scoop on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
JACKSONVILLE, FL 32216

SBA Loan Lender

WACHOVIA BANK
301 S COLLEGE ST MAIN LOBBY
CHARLOTTE, NC 28202

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

7/29/2004

Loan Approval Gross Amount

$122,550

Loan Approval from the SBA

Of the total $122,550 loan amount, the SBA guaranteed $61,275.

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 no employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

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

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wachovia Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for 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.

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