Getting an SBA Loan for Commercial and Institutional Building Construction

With these commercial loans for commercial and institutional building construction, the SBA guarantees the lender that the loan will be repaid. This commercial and institutional building construction loan for $105,000 was given to a Florida entrepreneur in 2003.

Getting a small business loan in Punta Gorda, Florida was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Landmark Bank Of Florida, operating out of Sarasota, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS
PUNTA GORDA, FL 33950

SBA Loan Lender

LANDMARK BANK OF FLORIDA
544 S WASHINGTON BLVD
SARASOTA, FL 34236

This was a Low Documentation SBA loan. The SBA started 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1542 - General Contracting for Nonresidential Buildings

NAICS Code

233320 - Commercial and Institutional Building Construction

Loan Approval Date

12/23/2003

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

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 7 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Landmark Bank Of Florida that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 Line of Credit

Good Banks for Small Business in Sarasota, Florida

Florida SBA 7A Banks