Financing for Prerecorded Tape, Compact Disc, and Record Stores

Looking for loans for prerecorded tape, compact disc, and record stores? Try the SBA. This $92,800 prerecorded tape, compact disc, and record stores loan was issued by a Florida bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First Comm. Bank - Florida, out of Orlando, Florida. The loan was granted and they received $92,800 to help grow their Gotha, Florida business.

SBA Loan Borrower

COMPANY TYPE: RECORD AND PRERECORDED TAPE STORES
GOTHA, FL 34734

SBA Loan Lender

FIRST COMM. BANK - FLORIDA
945 S ORANGE AVE
ORLANDO, FL 32806

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5735 - Record and Prerecorded Tape Stores

NAICS Code

451220 - Prerecorded Tape, Compact Disc, and Record Stores

Loan Approval Date

2/15/2001

Loan Approval Gross Amount

$92,800

Loan Approval from the SBA

Of the total $92,800 loan amount, the SBA guaranteed $78,880.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First Comm. Bank - Florida so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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