Florida Small Business Loan Issued to Amusement And Recreation Industries Company

Would a Florida bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Alabama bank, which offers SBA loans to Florida entrepreneurs.

You can learn something about getting a small business loan in Floral City, Florida by studying this loan to a local company, made back in 2002. Banks like Regions Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION INDUSTRIES
FLORAL CITY, FL 34436

SBA Loan Lender

REGIONS BANK
1900 5TH AVE NORTH
BIRMINGHAM, AL 35203

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713990 - Amusement and Recreation Industries

Loan Approval Date

9/13/2002

Loan Approval Gross Amount

$617,500

Loan Approval from the SBA

Of the total $617,500 loan amount, the SBA guaranteed $463,125.

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 5 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Regions Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Microlending as a Small Business Funding Source

SBA Participating Banks in Birmingham, Alabama

Alabama SBA 7A Lenders