Company Gets a Florida Small Business Loan

SBA loans in Florida are are few and far betweeen these days. We take a look at one Florida SBA loan, provided by a New Jersey bank, that was approved by the SBA.

You can learn something about getting a small business loan in New Smyrna Beach, Florida by studying this loan to a local business, made back in 2004. Banks like Cit Small Business Lending Corp may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES
NEW SMYRNA BEACH, FL 32168

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541940 - Veterinary Services

Loan Approval Date

8/26/2004

Loan Approval Gross Amount

$808,600

Loan Approval from the SBA

Of the total $808,600 loan amount, the SBA guaranteed $606,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in New Smyrna Beach FL, you ought to talk with a local New Smyrna Beach SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Smyrna Beach businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cit Small Business Lending Corp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cit Small Business Lending Corp made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

How to Raise Money

Banks in Livingston, New Jersey

New Jersey SBA Banks