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May 17, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Ocala, Business Loans > The Park Avenue Bank Ocala Business Loans > Sporting Goods Stores And Bicycle Shops Loan | ||||
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Small Business Banks That Lend to Florida Small Businesses
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Local Business Gets a Florida Business LoanLooking to get a Florida business loan? This Florida entrepreneur got a business loan, provided by a Florida bank that works with the SBA to help small business owners. This company, based in Ocala, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The Park Avenue Bank. We've got the inside scoop on this Florida small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS SBA Loan Lender THE PARK AVENUE BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5941 - Sporting Goods Stores and Bicycle Shops NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 6/8/2001 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $29,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 14 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. While you may be able to find business people willing to loan money, 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 Lenders in Ocala, Florida
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