Tallahassee, Florida Entrepreneur Gets an SBA Loan

SBA loans in Florida are are few and far betweeen these days. We take a look at one Florida SBA loan, provided by a Florida bank, that was approved by the SBA.

Getting a small business loan in Tallahassee, Florida was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Premier Bank. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
TALLAHASSEE, FL 32308

SBA Loan Lender

PREMIER BANK
3110 CAPITAL CIRCLE NE
TALLAHASSEE, FL 32308

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8711 - Engineering Services

NAICS Code

541330 - Engineering Services

Loan Approval Date

6/19/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new 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.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

SBIR Funding

SBA 7A Banks in Tallahassee, Florida

Florida SBA Banks