Raising Money for Deep Sea Passenger Transportation

Looking for business loans for deep sea passenger transportation? Try the SBA. This $70,000 deep sea passenger transportation loan was issued by a Florida bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Orange Beach, Alabama was able to borrow $70,000 from Beach Community Bank. The SBA made the loan possible by guaranteeing $59,500 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: DEEP SEA TRANSPORTATION OF PASSENGERS
ORANGE BEACH, AL 36561

SBA Loan Lender

BEACH COMMUNITY BANK
17 SE EGLIN PKWY
FORT WALTON BEACH, FL 32548

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

4481 - Deep Sea Transportation of Passengers

NAICS Code

483112 - Deep Sea Passenger Transportation

Loan Approval Date

6/10/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 $70,000 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:

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