Rooming and Boarding Houses Business Loans

With these business loans for rooming and boarding houses, the SBA guarantees the lender that the loan will be repaid. This rooming and boarding houses loan for $655,900 was given to a Florida entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Palmetto, Florida was able to borrow $655,900 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $491,925 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: ROOMING AND BOARDING HOUSES
PALMETTO, FL 34221

SBA Loan Lender

WELLS FARGO BANK
912 S HWY 183
AUSTIN, TX 78741

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.

SIC Code

7021 - Rooming and Boarding Houses

NAICS Code

721310 - Rooming and Boarding Houses

Loan Approval Date

7/18/2000

Loan Approval Gross Amount

$655,900

Loan Approval from the SBA

Of the total $655,900 loan amount, the SBA guaranteed $491,925.

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 2 employees. The loan application indicated that the loan would help generate 1 new job.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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:

Business Cash Advances

Good Banks for Small Business in Austin, Texas

SBA Texas Lenders