How to Get a Loan for General Merchandise Stores

Looking for business loans for general merchandise stores? An SBA loan may be just what you've been looking for. This $70,000 general merchandise stores loan was issued by a Florida bank.

Getting a small business loan in Orlando, Florida was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Comm. Bank - Florida, operating out of Lake Mary, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
ORLANDO, FL 32801

SBA Loan Lender

FIRST COMM. BANK - FLORIDA
3505 W LAKE MARY BLVD
LAKE MARY, FL 32746

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA 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.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

11/22/2004

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 3 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Orlando FL, you ought to talk with a local Orlando SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Orlando businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Determining Proper Capital Structure for a Business

Small Business Banks in Lake Mary, Florida

Find an SBA Lender in Florida