Business Loan from Capitalsouth Bank Given to Racetracks Company

An SBA loan from Capitalsouth Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Ponte Vedra, Florida business owner got a $1,000,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Capitalsouth Bank, out of Jacksonville Beach, Florida. The loan was granted and they received $1,000,000 to help grow their Ponte Vedra, Florida business.

SBA Loan Borrower

COMPANY TYPE: RACETRACKS
PONTE VEDRA, FL 32082

SBA Loan Lender

CAPITALSOUTH BANK
3288 S THIRD ST
JACKSONVILLE BEACH, FL 32250

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

711212 - Racetracks

Loan Approval Date

4/23/2001

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.

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.

This SBA loan was for $1,000,000. How would you spend $1,000,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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