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April 16, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Lakeland, Business Loans > Colonial Bank Lakeland Business Loans > Eating Places Loan | ||||
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Lakeland, Florida SBA Lenders
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Lakeland, Florida Bank Gives SBA Loan to Eating Places CompanyThinking about meeting with a Lakeland, Florida bank about a small business loan? Here's one Florida business loan, issued by a Lakeland bank, that was approved by the SBA. Applying for an SBA loan with Colonial Bank worked out well for our friends at one local firm in Lakeland, Florida. The business was able to get an SBA loan for $50,000. Nice! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender COLONIAL BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/28/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 SBA 7A Banks for Lakeland, Florida Loans SBA Participating Banks in Florida
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