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November 14, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > West Palm Beach, Business Loans > Wachovia Bank West Palm Beach Business Loans > Equipment Rental And Leasing Loan | ||||
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Business Loans for Ocala Entrepreneurs
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Financing for Commercial and Industrial Machinery and Equipment Rental and LeasingLooking for commercial loans for commercial and industrial machinery and equipment rental and leasing? An SBA loan may be just what you've been looking for. This $100,000 commercial and industrial machinery and equipment rental and leasing loan was issued by a Florida bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ocala, Florida was able to borrow $100,000 from Wachovia Bank. The SBA made the loan possible by guaranteeing $80,000 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: EQUIPMENT RENTAL AND LEASING SBA Loan Lender WACHOVIA BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7359 - Equipment Rental and Leasing NAICS Code 532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing Loan Approval Date 8/21/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 6 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in Ocala or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Good Banks for Small Business in West Palm Beach, Florida
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