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November 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Tampa, Business Loans > Southern Comm. Bank Tampa Business Loans > Testing Laboratories Loan | ||||
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Southern Comm. Bank
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Orlando, Florida Business Gets SBA-Guaranteed Funding from Southern Comm. BankAn SBA loan from Southern Comm. Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Orlando, Florida business owner got a $100,000 loan. Getting a small business loan in Orlando, Florida was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Southern Comm. Bank, operating out of Tampa, Florida. Here are the details on this Florida small business loan. SBA Loan Borrower COMPANY TYPE: TESTING LABORATORIES SBA Loan Lender SOUTHERN COMM. BANK 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8734 - Testing Laboratories NAICS Code 541380 - Testing Laboratories Loan Approval Date 7/31/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 20 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Southern Comm. Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA Participating Banks in Tampa, Florida
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