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May 9, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Tampa, Business Loans > Southern Comm. Bank Tampa Business Loans > Metals Service Centers And Offices Loan | ||||
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Southern Comm. Bank SBA Loans Clearwater, Florida
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Southern Comm. Bank SBA Loan to Metals Service Centers And Offices CompanySouthern Comm. Bank 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 Clearwater, Florida was able to borrow $500,000 from Southern Comm. Bank. The SBA made the loan possible by guaranteeing $375,000 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: METALS SERVICE CENTERS AND OFFICES SBA Loan Lender SOUTHERN COMM. BANK When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to ensure fast 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 5051 - Metals Service Centers and Offices NAICS Code 423510 - Metal Service Centers and Metal Merchant Wholesalers Loan Approval Date 5/20/2004 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: How Much Venture Capital Is There? Best Banks for Small Business in Tampa, Florida
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