SBA Loan from M&i Marshall & Ilsley Bank Helps Optical Goods Stores Company

An SBA loan from M&i Marshall & Ilsley Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Oviedo, Florida business owner got a $140,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with M&i Marshall & Ilsley Bank, out of Lake Mary, Florida. The loan was granted and they received $140,000 to help grow their Oviedo, Florida business.

SBA Loan Borrower

COMPANY TYPE: OPTICAL GOODS STORES
OVIEDO, FL 32765

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
3001 W LAKE MARY BLVD, STE 11
LAKE MARY, FL 32746

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program requires 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

5995 - Optical Goods Stores

Loan Approval Date

3/30/2000

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

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 8 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Oviedo 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:

The Art of Bootstrapping

Small Business Banks in Lake Mary, Florida

Florida SBA Bank Lenders