Promoters of Performing Arts, Sports, and Similar Events with Facilities Loans

With these loans for promoters of performing arts, sports, and similar events with facilities, the SBA guarantees the lender that the loan will be repaid. This promoters of performing arts, sports, and similar events with facilities loan for $291,500 was given to a Florida entrepreneur in 2005.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First National Bank - Nassau Cnty, out of Fernandina Beach, Florida. The loan was granted and they received $291,500 to help grow their Fernandina Beach, Florida business.

SBA Loan Borrower

COMPANY TYPE: PROMOTERS OF PERFORMING ARTS, SPORTS, AND SIMILAR EVENTS WITH FACILITIES
FERNANDINA BEACH, FL 32034

SBA Loan Lender

FIRST NATIONAL BANK - NASSAU CNTY
1891 S 14TH ST
FERNANDINA BEACH, FL 32034

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

711310 - Promoters of Performing Arts, Sports, and Similar Events with Facilities

Loan Approval Date

1/28/2005

Loan Approval Gross Amount

$291,500

Loan Approval from the SBA

Of the total $291,500 loan amount, the SBA guaranteed $218,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank - Nassau Cnty and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Dealing With Venture Capitalists

Best Banks for Small Business in Fernandina Beach, Florida

Getting a Business Loan in Florida