Ice Manufacturing Business Loans

Looking for business loans for ice manufacturing? Try the SBA. This $405,000 ice manufacturing loan was issued by a Florida bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Augustine, Florida was able to borrow $405,000 from Mercantile Bank, A Division Of. The SBA made the loan possible by guaranteeing $303,750 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: ICE MANUFACTURING
ST. AUGUSTINE, FL 32084

SBA Loan Lender

MERCANTILE BANK, A DIVISION OF
100 S ORANGE AVE
ORLANDO, FL 32801

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

312113 - Ice Manufacturing

Loan Approval Date

4/4/2002

Loan Approval Gross Amount

$405,000

Loan Approval from the SBA

Of the total $405,000 loan amount, the SBA guaranteed $303,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Mercantile Bank, A Division Of had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Mercantile Bank, A Division Of 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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