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May 10, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Venice, Business Loans > Colonial Bank Venice Business Loans > Aluminum Die-Castings Loan | ||||
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Venice, Florida SBA Banks
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Venice, Florida Bank Gives SBA Loan to Aluminum Die-Castings CompanyThinking about meeting with a Venice, Florida bank about an SBA loan? Here's one Florida business loan, issued by a Venice bank, that was approved by the SBA. Applying for an SBA loan with Colonial Bank worked out well for our friends at one local company in Haines City, Florida. The business was able to get an SBA loan for $175,000. Way to go! SBA Loan Borrower COMPANY TYPE: ALUMINUM DIE-CASTINGS SBA Loan Lender COLONIAL BANK This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and are well trained in SBA lending rules and regulations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3363 - Aluminum Die-Castings NAICS Code 331521 - Aluminum Die-Casting Foundries Loan Approval Date 12/19/2002 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. 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 15 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Banks in Venice, Florida
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