Saint Petersburg, Florida Bank Lends Money to Research And Development In Biotechnology Company in Trinity, Florida

Thinking about meeting with a Saint Petersburg, Florida bank about an SBA loan? Here's one Florida business loan, issued by a Saint Petersburg bank, that was approved by the SBA.

Applying for an SBA loan with Synovus Bank Of Tampa Bay worked out well for our friends at one local company in Trinity, Florida. They got an SBA loan for $230,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: RESEARCH AND DEVELOPMENT IN BIOTECHNOLOGY
TRINITY, FL 34655

SBA Loan Lender

SYNOVUS BANK OF TAMPA BAY
12450 ROOSEVELT BLVD
SAINT PETERSBURG, FL 33761

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

541711 - Research and Development in Biotechnology

Loan Approval Date

2/14/2008

Loan Approval Gross Amount

$230,000

Loan Approval from the SBA

Of the total $230,000 loan amount, the SBA guaranteed $172,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Synovus Bank Of Tampa Bay 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.

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