Terra Ceia, Florida Entrepreneur Gets an SBA Loan

Would a Florida small business loan help your small business to grow and prosper? If so, you may want to talk with this Florida bank, which offers SBA loans to Florida entrepreneurs.

Getting a small business loan in Terra Ceia, Florida was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Priority Bank. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
TERRA CEIA, FL 34250

SBA Loan Lender

FIRST PRIORITY BANK
4702 CORTEZ RD WEST
BRADENTON, FL 34210

This business 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.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

10/5/2004

Loan Approval Gross Amount

$876,000

Loan Approval from the SBA

Of the total $876,000 loan amount, the SBA guaranteed $657,000.

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 4 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Advice on Getting a Small Business Loan

SBA Participating Banks in Bradenton, Florida

Getting an SBA Loan in Florida