First Fed. Bank - No. Florida Provides SBA Loan to Buy Truck Options Franchise

Need a loan to invest in a Truck Options franchise? First Fed. Bank - No. Florida has a history of making these loans and they are guaranteed by the SBA.

If you live near Tallahassee, Florida and are interested in buying a Truck Options franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by First Fed. Bank - No. Florida. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

TRUCK OPTIONS OF TALLAHASSEE
TALLAHASSEE, FL 32304

SBA Loan Lender

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

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421120 - Motor Vehicle Supplies and New Parts Wholesalers

Loan Approval Date

4/5/2004

Loan Approval Gross Amount

$33,000

Loan Approval from the SBA

Of the total $33,000 loan amount, the SBA guaranteed $28,050.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Truck Options franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $33,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Incubators

SBA 7A Banks in Palatka, Florida

Getting an SBA Loan in Florida