Entrepreneur Works With Panama City, Florida Bank to Get an SBA Loan

Want to talk with a Panama City, Florida bank about an SBA loan? Here's one Florida business loan, issued by a Panama City bank, that was approved by the SBA.

Applying for an SBA loan with First National Bank N.W. Florida worked out well for our friends at one local firm in Saint Petersburg, Florida. They got an SBA loan for $900,000. Nice!

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
SAINT PETERSBURG, FL 33701

SBA Loan Lender

FIRST NATIONAL BANK N.W. FLORIDA
101 E 23RD ST
PANAMA CITY, FL 32405

This lender issued this debt financing under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721191 - Bed-and-Breakfast Inns

Loan Approval Date

5/26/2004

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Microlending as a Small Business Funding Source

Banks in Panama City, Florida

Browse All Business Loan Sources for Florida