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May 6, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Orlando, Business Loans > Mercantile Bank, A Division Of Orlando Business Loans > Motor Vehicle Supplies And New Parts Wholesalers Loan | ||||
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Raising Money in Jacksonville, Florida With SBA Loans
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Motor Vehicle Supplies and New Parts Wholesalers Bank LoansLooking for bank loans for motor vehicle supplies and new parts wholesalers? Try the SBA. This $100,000 motor vehicle supplies and new parts wholesalers loan was issued by a Florida bank. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Mercantile Bank, A Division Of, out of Orlando, Florida. The loan was granted and they received $100,000 to help grow their Jacksonville, Florida business. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS WHOLESALERS SBA Loan Lender MERCANTILE BANK, A DIVISION OF This loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA promises a quick answer on whether the loan qualifies. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421120 - Motor Vehicle Supplies and New Parts Wholesalers Loan Approval Date 1/15/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 Mercantile Bank, A Division Of 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: A Company That Helps Entrepreneurs
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