Sarasota, FL Entrepreneur Gets SBA Loan to Buy Post Net Franchise

Borrowing money to invest in a Post Net franchise? Colonial Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Sarasota, Florida and are interested in buying a Post Net franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Colonial Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

POST NET
SARASOTA, FL 34232

SBA Loan Lender

COLONIAL BANK
160 POINTE LOOP DR
VENICE, FL 34293

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4783 - Packing and Crating

NAICS Code

488991 - Packing and Crating

Loan Approval Date

2/22/2000

Loan Approval Gross Amount

$68,550

Loan Approval from the SBA

Of the total $68,550 loan amount, the SBA guaranteed $54,840.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Post Net franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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. Colonial Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Colonial Bank 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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