Company Gets a Florida Bank Loan
FloridaSBA loans are available to Florida entrepreneurs through the SBA. In this case, a Texas bank provides the loan.
Getting a small business loan in Sarasota, Florida was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Small Business Loan Source LLC. Here are the details on this Florida small business loan.
SBA Loan Borrower
COMPANY TYPE: DANCE STUDIOS, SCHOOLS, AND HALLS
SARASOTA, FL 34233
SBA Loan Lender
SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056
This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7911 - Dance Studios, Schools, and Halls
NAICS Code
711120 - Dance Companies
Loan Approval Date
6/19/2003
Loan Approval Gross Amount
$369,500
Loan Approval from the SBA
Of the total $369,500 loan amount, the SBA guaranteed $277,125.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 7 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.
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.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Small Business Loan Source LLC had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Small Business Loan Source LLC made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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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