Bank Loans for Nursing Care Facilities

With these bank loans for nursing care facilities, the SBA guarantees the lender that the loan will be repaid. This nursing care facilities loan for $1,315,000 was given to a Florida entrepreneur in 2004.

Getting a small business loan in Lakeland, Florida was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC, operating out of Richmond, Virginia. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: INTERMEDIATE CARE FACILITIES
LAKELAND, FL 33809

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233

This lender issued this business loan under the 7A SBA 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.

SIC Code

8052 - Intermediate Care Facilities

NAICS Code

623110 - Nursing Care Facilities

Loan Approval Date

6/22/2004

Loan Approval Gross Amount

$1,315,000

Loan Approval from the SBA

Of the total $1,315,000 loan amount, the SBA guaranteed $986,250.

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 15 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Business Loan Center, LLC and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Business Line of Credit

Banks in Richmond, Virginia

SBA Virginia Banks