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November 10, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Ornamental And Architectural Metal Work Manufacturing Loan | ||||
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How to Get a Business Loan in Englewood, Florida
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Branch Bank & Trust Gives Bank Loan to Ornamental And Architectural Metal Work Manufacturing CompanyBusiness loans in Florida are hard to find these days. We take a look at one Florida business loan, provided by a North Carolina bank, that was approved by the SBA. By giving the right information to Branch Bank & Trust, this Englewood, Florida business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: ORNAMENTAL AND ARCHITECTURAL METAL WORK MANUFACTURING SBA Loan Lender BRANCH BANK & TRUST The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 332323 - Ornamental and Architectural Metal Work Manufacturing Loan Approval Date 1/25/2005 Loan Approval Gross Amount $149,900 Loan Approval from the SBA Of the total $149,900 loan amount, the SBA guaranteed $74,950. 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 SBA loan documents indicated that the loan would help generate 6 new jobs and retain 4 existing jobs. Next Steps for Getting an SBA Loan 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. 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 Branch Bank & Trust 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. Related Links: Best Winston Salem, North Carolina Banks for Small Business
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