Lakeland, Florida Business Gets SBA-Guaranteed Funding from Regions Bank

Regions Bank has a track record as a leading provider of SBA loans. Find out how this Florida entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Regions Bank, out of Birmingham, Alabama. The loan was granted and they received $549,000 to help grow their Lakeland, Florida business.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
LAKELAND, FL 33805

SBA Loan Lender

REGIONS BANK
250 RIVERCHASE PKWY E RCS-1 B
BIRMINGHAM, AL 35244

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

SIC Code

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

1/9/2002

Loan Approval Gross Amount

$549,000

Loan Approval from the SBA

Of the total $549,000 loan amount, the SBA guaranteed $411,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, 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.

Related Links:

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