Borrowing Money for Continuing Care Retirement Communities

With these bank loans for continuing care retirement communities, the SBA guarantees the lender that the loan will be repaid. This continuing care retirement communities loan for $272,000 was given to a Florida entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Oakland Park, Florida, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Flagler Bank, based in West Palm Beach, Florida.

SBA Loan Borrower

COMPANY TYPE: NURSING AND PERSONAL CARE FACILITIES, N.E.C
OAKLAND PARK, FL 33311

SBA Loan Lender

FLAGLER BANK
1801 FOREST HILL BLVD
WEST PALM BEACH, FL 33406

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8059 - Nursing and Personal Care Facilities, N.E.C

NAICS Code

623311 - Continuing Care Retirement Communities

Loan Approval Date

2/23/2001

Loan Approval Gross Amount

$272,000

Loan Approval from the SBA

Of the total $272,000 loan amount, the SBA guaranteed $204,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Small Business Loan

Small Business Banks in West Palm Beach, Florida

Florida SBA 7A Lenders