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November 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Longwood, Business Loans > Orlando National Bank Longwood Business Loans > Lawyers Loan | ||||
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Banks for Oviedo Small Businesses
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Company Gets a Florida Small Business LoanLooking to get a Florida SBA loan? This Florida entrepreneur got an SBA loan, provided by a Florida bank that works with the SBA to help small business owners. Getting a small business loan in Oviedo, Florida was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Orlando National Bank. Here are the details on this Florida small business loan. SBA Loan Borrower COMPANY TYPE: LAWYERS SBA Loan Lender ORLANDO NATIONAL BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541110 - Lawyers Loan Approval Date 6/14/2002 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 25 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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