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May 18, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Sea Grove Beach, Business Loans > Whitney National Bank Sea Grove Beach Business Loans > Retail Stores Loan | ||||
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SBA Lender Sandestin Florida
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Business Loans for Store RetailersWith these business loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $150,000 was given to a Florida entrepreneur in 2003. This small business knew how to go about getting a business bank loan. Based in Sandestin, Florida, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Whitney National Bank, based in Sea Grove Beach, Florida. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender WHITNEY NATIONAL BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program involves 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 5999 - Retail Stores NAICS Code 453998 - Store Retailers Loan Approval Date 8/28/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 10 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Whitney National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Whitney National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Business Banks in Sea Grove Beach, Florida
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