Southern Comm. Bank SBA Loan to Structural Metal Work Company

An SBA loan from Southern Comm. Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lakeland, Florida business owner got a $75,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Lakeland, Florida, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Southern Comm. Bank, based in Tampa, Florida.

SBA Loan Borrower

COMPANY TYPE: STRUCTURAL METAL WORK
LAKELAND, FL 33811

SBA Loan Lender

SOUTHERN COMM. BANK
5650 BRECKENRIDGE PARK DR, ST
TAMPA, FL 33610

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3449 - Structural Metal Work

NAICS Code

332312 - Fabricated Structural Metal Manufacturing

Loan Approval Date

7/8/2002

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 only one employee. The loan application 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 provide money to small business owners for working capital for other expenses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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