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May 16, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Tallahassee, Business Loans > Premier Bank Tallahassee Business Loans > Business Services Loan | ||||
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Premier Bank Tallahassee, Florida
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Business Loan from Premier Bank Given to Business Services CompanyAn SBA loan from Premier Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Tallahassee, Florida business owner got a $40,000 loan. This small firm knew how to go about getting a business bank loan. Based in Tallahassee, Florida, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Premier Bank, based in Tallahassee, Florida. SBA Loan Borrower COMPANY TYPE: BUSINESS SERVICES SBA Loan Lender PREMIER BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7389 - Business Services NAICS Code 314999 - Textile Product Mills Loan Approval Date 2/6/2002 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. 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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Role of Business Plan When Raising Money Who Lends Money to Small Businesses in Tallahassee, Florida
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