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May 5, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Veterinary Services Loan | ||||
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Branch Bank & Trust
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Jacksonville, Florida Business Gets SBA-Guaranteed Funding from Branch Bank & TrustBranch Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Florida entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jacksonville, Florida was able to borrow $1,400,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $1,050,000 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: VETERINARY SERVICES SBA Loan Lender BRANCH BANK & TRUST 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. NAICS Code 541940 - Veterinary Services Loan Approval Date 5/6/2004 Loan Approval Gross Amount $1,400,000 Loan Approval from the SBA Of the total $1,400,000 loan amount, the SBA guaranteed $1,050,000. 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 4 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks in Winston Salem, North Carolina
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