Getting an SBA Loan for On-Line Information Services

With these SBA loans for on-line information services, the SBA guarantees the lender that the loan will be repaid. This on-line information services loan for $720,000 was given to a Florida entrepreneur in 2003.

This business knew how to go about getting a business bank loan. Based in St. Augustine, Florida, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Fed. Bank - No. Florida, based in Palatka, Florida.

SBA Loan Borrower

COMPANY TYPE: ON-LINE INFORMATION SERVICES
ST. AUGUSTINE, FL 32084

SBA Loan Lender

FIRST FED. BANK - NO. FLORIDA
511 ST. JOHNS AVE
PALATKA, FL 32177

This commercial 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.

NAICS Code

514191 - On-Line Information Services

Loan Approval Date

6/20/2003

Loan Approval Gross Amount

$720,000

Loan Approval from the SBA

Of the total $720,000 loan amount, the SBA guaranteed $540,000.

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 25 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Fed. Bank - No. Florida and they will explain how you can get an SBA loan for your company.

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:

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Getting a Business Loan in Florida