Consumer Goods Rental Loans

Looking for loans for consumer goods rental? The SBA may be the answer. This $75,650 consumer goods rental loan was issued by a Florida bank.

This small firm knew how to go about getting a business bank loan. Based in Live Oak, Florida, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Mercantile Bank, A Division Of, based in Jacksonville, Florida.

SBA Loan Borrower

COMPANY TYPE: EQUIPMENT RENTAL AND LEASING
LIVE OAK, FL 32064

SBA Loan Lender

MERCANTILE BANK, A DIVISION OF
9715 GATE PKWY NORTH
JACKSONVILLE, FL 32246

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

7359 - Equipment Rental and Leasing

NAICS Code

532299 - Consumer Goods Rental

Loan Approval Date

2/7/2003

Loan Approval Gross Amount

$75,650

Loan Approval from the SBA

Of the total $75,650 loan amount, the SBA guaranteed $64,302.

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 5 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Mercantile Bank, A Division Of 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:

Getting a Small Business Loan

Good Banks for Small Business in Jacksonville, Florida

Getting an SBA Loan in Florida