Business Loan from Riverside National Bank - Florida Given to General Industrial Machinery And Equipment, N.E.C Company

Riverside National Bank - Florida 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.

This small firm knew how to go about getting a business bank loan. Based in Cape Canaver, Florida, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Riverside National Bank - Florida, based in Fort Pierce, Florida.

SBA Loan Borrower

COMPANY TYPE: GENERAL INDUSTRIAL MACHINERY AND EQUIPMENT, N.E.C
CAPE CANAVER, FL 32920

SBA Loan Lender

RIVERSIDE NATIONAL BANK - FLORIDA
2211 OKEECHOBEE RD
FORT PIERCE, FL 34950

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3569 - General Industrial Machinery and Equipment, N.E.C

NAICS Code

314999 - Textile Product Mills

Loan Approval Date

9/30/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 17 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Bank Credit Lines

SBA 7A Banks in Fort Pierce, Florida

SBA Participating Banks in Florida