Business Loans for Homes for the Elderly

With these business loans for homes for the elderly, the SBA guarantees the lender that the loan will be repaid. This homes for the elderly loan for $358,000 was given to a Florida entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Banco Popular, out of Orlando, Florida. The loan was granted and they received $358,000 to help grow their West Palm Beach, Florida business.

SBA Loan Borrower

COMPANY TYPE: NURSING AND PERSONAL CARE FACILITIES, N.E.C
WEST PALM BEACH, FL 33401

SBA Loan Lender

BANCO POPULAR
8523 COMMODITY CIR
ORLANDO, FL 32819

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8059 - Nursing and Personal Care Facilities, N.E.C

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

8/21/2002

Loan Approval Gross Amount

$358,000

Loan Approval from the SBA

Of the total $358,000 loan amount, the SBA guaranteed $268,500.

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 8 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Banco Popular are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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