Raising Money for Homes for the Elderly

With these bank loans for homes for the elderly, the SBA guarantees the lender that the loan will be repaid. This homes for the elderly loan for $598,000 was given to a Florida entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hollywood, Florida was able to borrow $598,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $448,500 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE
HOLLYWOOD, FL 33024

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8361 - Residential Care

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

9/6/2005

Loan Approval Gross Amount

$598,000

Loan Approval from the SBA

Of the total $598,000 loan amount, the SBA guaranteed $448,500.

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 6 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

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

If you are wondering how to raise money for a business in Hollywood FL, you ought to talk with a local Hollywood SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hollywood businesses.

This SBA loan was for $598,000. How would you spend $598,000 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:

Borrowing Money from Friends and Family

SBA 7A Banks in Richmond, Virginia

Virginia SBA 7A Lenders