Firm Gets a Florida Small Business Loan

Small business loans in Florida are are few and far betweeen these days. We take a look at one Florida small business loan, provided by a Florida bank, that was approved by the SBA.

Getting a small business loan in Saint Augustine, Florida was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Coast Community Bank. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
SAINT AUGUSTINE, FL 32084

SBA Loan Lender

FIRST COAST COMMUNITY BANK
1750 S 14TH ST
FERNANDINA BEACH, FL 32034

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721191 - Bed-and-Breakfast Inns

Loan Approval Date

8/20/2002

Loan Approval Gross Amount

$1,075,000

Loan Approval from the SBA

Of the total $1,075,000 loan amount, the SBA guaranteed $806,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,075,000 loan. Remember, if it to be, it is up to me!

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:

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Where to Get an SBA Loan in Fernandina Beach, Florida

SBA Florida Banks