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April 20, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Fort Pierce, Business Loans > Riverside National Bank - Florida Fort Pierce Business Loans > Repair Shops And Related Services Loan | ||||
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Florida Bank SBA Loans
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Fort Pierce, Florida Bank Gives SBA Loan to Repair Shops And Related Services CompanyThinking about meeting with a Fort Pierce, Florida bank about a small business loan? Here's one Florida business loan, issued by a Fort Pierce bank, that was approved by the SBA. Applying for an SBA loan with Riverside National Bank - Florida worked out well for our friends at one local firm in Port Saint Lucie, Florida. They received an SBA loan for $50,000. Nice! SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender RIVERSIDE NATIONAL BANK - FLORIDA This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7699 - Repair Shops and Related Services Loan Approval Date 8/31/2000 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. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Riverside National Bank - Florida so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA 7A Banks in Fort Pierce, Florida
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