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May 14, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Venice, Business Loans > Colonial Bank Venice Business Loans > Concrete Products Loan | ||||
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Concrete Product Manufacturing LoansLooking for loans for concrete product manufacturing? The SBA may be the answer. This $293,000 concrete product manufacturing loan was issued by a Florida bank. This small firm knew how to go about getting a business bank loan. Based in Tarpon Springs, Florida, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Colonial Bank, based in Venice, Florida. SBA Loan Borrower COMPANY TYPE: CONCRETE PRODUCTS SBA Loan Lender COLONIAL BANK When this loan was made, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program aims 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. SIC Code 3272 - Concrete Products NAICS Code 327390 - Concrete Product Manufacturing Loan Approval Date 5/5/2000 Loan Approval Gross Amount $293,000 Loan Approval from the SBA Of the total $293,000 loan amount, the SBA guaranteed $219,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 Colonial 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: Realistic Debt Financing Options Small Bank Loans in Venice, Florida
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