Pensacola, Florida Entrepreneur Gets an SBA Loan
Would a Florida small business loan help your small business to grow and prosper? If so, you may want to talk with this Louisiana bank, which offers SBA loans to Florida entrepreneurs.
Getting a small business loan in Pensacola, Florida was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Whitney National Bank. Here are the details on this Florida small business loan.
SBA Loan Borrower
COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL
PENSACOLA, FL 32504
SBA Loan Lender
WHITNEY NATIONAL BANK
228 ST. CHARLES AVE
NEW ORLEANS, LA 70130
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7211 - Power Laundries, Family and Commercial
NAICS Code
812320 - Drycleaning and Laundry Services
Loan Approval Date
4/27/2001
Loan Approval Gross Amount
$92,000
Loan Approval from the SBA
Of the total $92,000 loan amount, the SBA guaranteed $78,200.
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 4 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Whitney National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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SBA Participating Banks in Louisiana