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May 11, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > West Palm Beach, Business Loans > National City Bank West Palm Beach Business Loans > Medical Laboratories Loan | ||||
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National City Bank Ft. Lauderdale
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Ft. Lauderdale, Florida Business Gets SBA-Guaranteed Funding from National City BankNational City Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Florida entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Ft. Lauderdale, Florida was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from National City Bank, operating out of West Palm Beach, Florida. Here are the details on this Florida small business loan. SBA Loan Borrower COMPANY TYPE: MEDICAL LABORATORIES SBA Loan Lender NATIONAL CITY BANK This lender issued this commercial loan under the 7A SBA 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. SIC Code 8071 - Medical Laboratories NAICS Code 621512 - Diagnostic Imaging Centers Loan Approval Date 8/25/2003 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 a new 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 small business promised to use the loan proceeds to hire new employees or retain any existing employees. 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. This SBA loan was for $500,000. How would you spend $500,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 Decide How Much to Raise Best West Palm Beach, Florida Banks for Small Business
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