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November 21, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > San Francisco, Business Loans > Bank Of The West San Francisco Business Loans > General Contracting For Nonresidential Buildings Loan | ||||
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How to Get a Small Business Loan in Switzerland, Florida
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Switzerland, Florida Entrepreneur Gets an SBA LoanWould a Florida bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this California bank, which offers SBA loans to Florida entrepreneurs. This company, based in Switzerland, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of The West. We've got the inside scoop on this Florida small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS SBA Loan Lender BANK OF THE WEST This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1542 - General Contracting for Nonresidential Buildings NAICS Code 233320 - Commercial and Institutional Building Construction Loan Approval Date 2/10/2000 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $750,000. 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 62 employees. The SBA loan documents indicated that the loan would help retain 62 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of The West and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - Getting Venture Capital SBA Approved Banks in San Francisco, California
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