Raising Money for Residential Care Facilities

With these bank loans for residential care facilities, the SBA guarantees the lender that the loan will be repaid. This residential care facilities loan for $915,000 was given to a Florida entrepreneur in 2001.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Community W. Bank, out of Goleta, California. The loan was granted and they received $915,000 to help grow their Saint Cloud, Florida business.

SBA Loan Borrower

COMPANY TYPE: NURSING AND PERSONAL CARE FACILITIES, N.E.C
SAINT CLOUD, FL 34769

SBA Loan Lender

COMMUNITY W. BANK
5827 HOLLISTER AVE
GOLETA, CA 93117

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8059 - Nursing and Personal Care Facilities, N.E.C

NAICS Code

623990 - Residential Care Facilities

Loan Approval Date

6/27/2001

Loan Approval Gross Amount

$915,000

Loan Approval from the SBA

Of the total $915,000 loan amount, the SBA guaranteed $686,250.

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 8 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels 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.

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 $915,000 loan. Remember, things become real when you believe you can achieve them!

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:

Startup Funding Tip

SBA Approved Banks in Goleta, California

California SBA 7A Banks