Pembroke Pines, Florida Business Gets SBA-Guaranteed Funding from Mercantile Bank, A Division Of

An SBA loan from Mercantile Bank, A Division Of typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pembroke Pines, Florida business owner got a $80,000 loan.

This business knew how to go about getting a business bank loan. Based in Pembroke Pines, Florida, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Mercantile Bank, A Division Of, based in Boca Raton, Florida.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
PEMBROKE PINES, FL 33026

SBA Loan Lender

MERCANTILE BANK, A DIVISION OF
21845 POWERLINE RD
BOCA RATON, FL 33433

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

Loan Approval Date

8/29/2000

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $64,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Pembroke Pines FL, you ought to talk with a local Pembroke Pines SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pembroke Pines businesses.

While you may be able to find other ways to get money to start a business, 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.

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