Growing Company Gets a Florida SBA Loan

Would a Florida bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Virginia bank, which offers SBA loans to Florida entrepreneurs.

Getting a small business loan in Lakeland, Florida was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: TESTING LABORATORIES
Lakeland, FL 33815

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541380 - Testing Laboratories

Loan Approval Date

11/8/2007

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $45,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 no employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Suntrust Bank and they will explain how you can get an SBA loan for your company.

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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