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April 20, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Boca Raton, Business Loans > Mercantile Bank Boca Raton Business Loans > Hotels And Motels Loan | ||||
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Florida Bank SBA Loans
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Mercantile Bank SBA Loan to Hotels And Motels CompanyLooking to get a Florida SBA loan? Here's one Florida business loan that was approved by the SBA. This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Mercantile Bank, out of Boca Raton, Florida. The loan was granted and they received $637,500 to help grow their Fort Lauderdale, Florida business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender MERCANTILE BANK This SBA business loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels Loan Approval Date 1/13/2000 Loan Approval Gross Amount $637,500 Loan Approval from the SBA Of the total $637,500 loan amount, the SBA guaranteed $478,125. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Mercantile Bank and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding - How to Borrow Money Best Banks in Boca Raton, Florida Browse All Business Loan Sources for Florida
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