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May 1, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Venice, Business Loans > Colonial Bank Venice Business Loans > Postnet Cattlemen Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Sarasota, FL Entrepreneur Gets SBA Loan to Buy Post Net FranchiseNeed money to purchase a Post Net franchise? Colonial Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Post Net franchise requires some effort but others before you have been successful. In 2000, Colonial Bank issued an SBA franchise loan to an entrepreneur in Sarasota, Florida. Because Post Net was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis. SBA Loan Borrower POSTNET CATTLEMEN SBA Loan Lender COLONIAL BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7389 - Business Services Loan Approval Date 7/3/2000 Loan Approval Gross Amount $16,000 Loan Approval from the SBA Of the total $16,000 loan amount, the SBA guaranteed $12,800. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Post Net franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Colonial Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Colonial 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: PostNet Postal & Business Services Best Banks for Small Business in Venice, Florida
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