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December 20, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Palatka, Business Loans > First Fed. Bank - No. Florida Palatka Business Loans > Insurance Agencies And Brokerages Loan | ||||
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First Fed. Bank - No. Florida SBA Loans
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Bank Loans for Insurance Agencies and BrokeragesWith these bank loans for insurance agencies and brokerages, the SBA guarantees the lender that the loan will be repaid. This insurance agencies and brokerages loan for $264,000 was given to a Florida entrepreneur in 2003. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Fed. Bank - No. Florida, out of Palatka, Florida. The loan was granted and they received $264,000 to help grow their Jacksonville, Florida business. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES SBA Loan Lender FIRST FED. BANK - NO. FLORIDA This lender issued this business loan under the SBA's 7(a) guaranteed loan program, 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. NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 5/8/2003 Loan Approval Gross Amount $264,000 Loan Approval from the SBA Of the total $264,000 loan amount, the SBA guaranteed $198,000. 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 120 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Fed. Bank - No. Florida had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Fed. Bank - No. Florida made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: A Company That Helps Entrepreneurs SBA Participating Banks in Palatka, Florida
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