Raising Money for Direct Selling Establishments

With these business loans for direct selling establishments, the SBA guarantees the lender that the loan will be repaid. This direct selling establishments loan for $200,000 was given to a Florida entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Key West, Florida was able to borrow $200,000 from First St. Bank - Florida Keys. The SBA made the loan possible by guaranteeing $150,000 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: AIR-CONDITIONING, REFRIGERATION AND HEATING
KEY WEST, FL 33040

SBA Loan Lender

FIRST ST. BANK - FLORIDA KEYS
1201 SIMONTON ST
KEY WEST, FL 33041

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3585 - Air-Conditioning, Refrigeration and Heating

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

4/18/2002

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 6 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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