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May 8, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Port Saint Lucie, Business Loans > First Peoples Bank Port Saint Lucie Business Loans > Wood Kitchen Cabinets Loan | ||||
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Port Saint Lucie SBA Lenders
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Port Saint Lucie, Florida Bank Gives SBA Loan to Wood Kitchen Cabinets CompanyA Port Saint Lucie, Florida business loan can be yours. Learn how a company got a $675,000 business loan from this Florida bank. This loan to a local firm is a good example of an SBA loan. First Peoples Bank made the loan and the SBA guaranteed a portion of the loan. Many other Florida entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: WOOD KITCHEN CABINETS SBA Loan Lender FIRST PEOPLES BANK When this loan was made, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program is designed to offer fast 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. SIC Code 2434 - Wood Kitchen Cabinets NAICS Code 337110 - Wood Kitchen Cabinet and Countertop Manufacturing Loan Approval Date 5/23/2003 Loan Approval Gross Amount $675,000 Loan Approval from the SBA Of the total $675,000 loan amount, the SBA guaranteed $506,250. 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 6 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Banks in Port Saint Lucie, Florida SBA Participating Banks in Florida
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