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May 3, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Panama City, Business Loans > First National Bank N.W. Florida Panama City Business Loans > General Automotive Repair Loan | ||||
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Advice for Businesses On Getting a Loan
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Borrowing Money for General Automotive RepairLooking for bank loans for general automotive repair? An SBA loan may be just what you've been looking for. This $475,000 general automotive repair loan was issued by a Florida bank. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First National Bank N.W. Florida, out of Panama City, Florida. The loan was granted and they received $475,000 to help grow their Orlando, Florida business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender FIRST NATIONAL BANK N.W. FLORIDA When this loan was made, this bank was part of the SBA's Certified Lenders Program (CLP). This program was created to ensure expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 11/15/2002 Loan Approval Gross Amount $475,000 Loan Approval from the SBA Of the total $475,000 loan amount, the SBA guaranteed $356,250. 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 16 employees. The SBA loan documents did not indicate that the company promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $475,000 loan. Remember, anyone can do it... so why not 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. Related Links: Where to Get an SBA Loan in Panama City, Florida
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