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May 13, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Saint Petersburg, Business Loans > Synovus Bank Of Tampa Bay Saint Petersburg Business Loans > Hotels And Motels Loan | ||||
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Synovus Bank Of Tampa Bay Business Loan Treasure Island, Florida
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Treasure Island, Florida Business Gets SBA-Guaranteed Funding from Synovus Bank Of Tampa BaySynovus Bank Of Tampa Bay 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. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Treasure Island, Florida was able to borrow $725,000 from Synovus Bank Of Tampa Bay. The SBA made the loan possible by guaranteeing $319,812 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender SYNOVUS BANK OF TAMPA BAY This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 4/9/2002 Loan Approval Gross Amount $725,000 Loan Approval from the SBA Of the total $725,000 loan amount, the SBA guaranteed $319,812. 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 SBA loan documents indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. 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 Saint Petersburg, Florida
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