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May 12, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > West Palm Beach, Business Loans > National City Bank West Palm Beach Business Loans > Florists Loan | ||||
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FL SBA Loans from National City Bank
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SBA Loan from National City Bank Helps Florists CompanyAn SBA loan from National City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Boynton Beach, Florida business owner got a $150,000 loan. This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with National City Bank, out of West Palm Beach, Florida. The loan was granted and they received $150,000 to help grow their Boynton Beach, Florida business. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender NATIONAL CITY BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5992 - Florists NAICS Code 453110 - Florists Loan Approval Date 4/29/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 3 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 Participating Banks in West Palm Beach, Florida
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