Company Gets a Florida Bank Loan

SBA loans in Florida are hard to find these days. We take a look at one Florida SBA loan, provided by a Florida bank, that was approved by the SBA.

This company, based in Cocoa, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Riverside National Bank - Florida. We've got the inside scoop on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
COCOA, FL 32927

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1799 - Special Trade Contractors

NAICS Code

235990 - Special Trade Contractors

Loan Approval Date

9/20/2000

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $32,000.

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 6 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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 $40,000 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:

Alternative Financing

Small Bank Loans in Fort Pierce, Florida

SBA Participating Banks in Florida