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May 7, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > New Orleans, Business Loans > Whitney National Bank New Orleans Business Loans > Automotive Dealers Loan | ||||
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Whitney National Bank Business Loans Pensacola, Florida
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Whitney National Bank SBA Loan to Automotive Dealers CompanyWhitney National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Florida entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Pensacola, Florida was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Whitney National Bank, operating out of New Orleans, Louisiana. Here are the details on this Florida small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE DEALERS SBA Loan Lender WHITNEY NATIONAL BANK 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 5599 - Automotive Dealers NAICS Code 441229 - Motor Vehicle Dealers Loan Approval Date 8/15/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. 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 Whitney National Bank 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: Obtaining Funding - Getting Venture Capital Small Bank Loans in New Orleans, Louisiana
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