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April 28, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Fernandina Beach, Business Loans > First National Bank - Nassau Cnty Fernandina Beach Business Loans > Eating Places Loan | ||||
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First National Bank - Nassau Cnty
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SBA Loan from First National Bank - Nassau Cnty Helps Eating Places CompanyAn SBA loan from First National Bank - Nassau Cnty typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Waycross, Georgia business owner got a $990,000 loan. This growing company knew how to go about getting a business bank loan. Based in Waycross, Georgia, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was First National Bank - Nassau Cnty, based in Fernandina Beach, Florida. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FIRST NATIONAL BANK - NASSAU CNTY This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/17/2000 Loan Approval Gross Amount $990,000 Loan Approval from the SBA Of the total $990,000 loan amount, the SBA guaranteed $599,940. 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 45 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add 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 an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Bank - Nassau Cnty are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Dealing With Venture Capitalists Best Banks for Small Business in Fernandina Beach, Florida
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