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November 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > San Francisco, Business Loans > Bank Of The West San Francisco Business Loans > Top And Body Repair And Paint Shops Loan | ||||
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SBA Lenders in Florida
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Business Loan from Bank Of The West Given to Top And Body Repair And Paint Shops CompanyBank Of The West is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Florida entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Jacksonville, Florida was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The West, operating out of San Francisco, California. Here are the details on this Florida small business loan. SBA Loan Borrower COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS SBA Loan Lender BANK OF THE WEST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7532 - Top and Body Repair and Paint Shops NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 7/31/2000 Loan Approval Gross Amount $583,400 Loan Approval from the SBA Of the total $583,400 loan amount, the SBA guaranteed $437,550. 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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are raising money in Jacksonville FL, you ought to talk with a local Jacksonville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jacksonville businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - How to Borrow Money SBA Banks in San Francisco, California
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