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April 27, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Bradenton, Business Loans > Community Bank Of Manatee Bradenton Business Loans > The Mad Science Group Loan | ||||
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Seffner, Florida Bank for SBA Loans
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Community Bank Of Manatee Provides SBA Loan to Buy Mad Science Group FranchiseNeed money to invest in a Mad Science Group franchise? Community Bank Of Manatee has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Seffner, Florida needed money to invest in a Mad Science Group franchise back in 2003. Community Bank Of Manatee issued an SBA franchise loan. Here are the details on this Florida small business loan. SBA Loan Borrower THE MAD SCIENCE GROUP SBA Loan Lender COMMUNITY BANK OF MANATEE This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8299 - Schools and Educational Services NAICS Code 611710 - Educational Support Services Loan Approval Date 1/14/2003 Loan Approval Gross Amount $46,000 Loan Approval from the SBA Of the total $46,000 loan amount, the SBA guaranteed $39,100. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Mad Science Group franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Community Bank Of Manatee and they will explain how you can get an SBA loan for your company. 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: Good Banks for Small Business in Bradenton, Florida
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