Vanguard Bank & Trust Company Gives SBA Loan to Iron And Steel Mills Company

Bank loans in Florida are tough to come by these days. We take a look at one Florida bank loan, provided by a Florida bank, that was approved by the SBA.

This company, based in Panama City, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Vanguard Bank & Trust Company. We've got the inside scoop on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: IRON AND STEEL MILLS
PANAMA CITY, FL 32401

SBA Loan Lender

VANGUARD BANK & TRUST COMPANY
23 S JOHN SIMS PKWY
VALPARAISO, FL 32580

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

331111 - Iron and Steel Mills

Loan Approval Date

7/27/2005

Loan Approval Gross Amount

$115,500

Loan Approval from the SBA

Of the total $115,500 loan amount, the SBA guaranteed $98,175.

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 loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Vanguard Bank & Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Vanguard Bank & Trust Company made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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