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April 24, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Homestead, Business Loans > Community Bank Of Florida Homestead Business Loans > Child Day Care Services Loan | ||||
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Florida SBA Loan from Community Bank Of Florida
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Business Loan from Community Bank Of Florida Given to Child Day Care Services CompanyAn SBA loan from Community Bank Of Florida typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Leisure City, Florida business owner got a $50,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Leisure City, Florida was able to borrow $50,000 from Community Bank Of Florida. The SBA made the loan possible by guaranteeing $40,000 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender COMMUNITY BANK OF FLORIDA This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8351 - Child Day Care Services NAICS Code 624410 - Child Day Care Services Loan Approval Date 3/29/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 30 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. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 Community Bank Of Florida 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: Borrowing Money from Friends and Family SBA 7A Banks for Homestead, Florida Loans
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