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March 29, 2024  
 
 
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Riverside National Bank - Florida

 

 
Loan Census SBA Loan Info

West Palm Beach, Florida Business Gets SBA-Guaranteed Funding from Riverside National Bank - Florida

An SBA loan from Riverside National Bank - Florida typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a West Palm Beach, Florida business owner got a $50,000 loan.

Getting a small business loan in West Palm Beach, Florida was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Riverside National Bank - Florida, operating out of Fort Pierce, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE WHOLESALERS
WEST PALM BEACH, FL 33401

SBA Loan Lender

RIVERSIDE NATIONAL BANK - FLORIDA
2211 OKEECHOBEE RD
FORT PIERCE, FL 34950

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . 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.

NAICS Code

421210 - Furniture Wholesalers

Loan Approval Date

2/23/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency business money, 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:

Obtaining Funding - How to Borrow Money

SBA 7A Lenders in Fort Pierce, Florida

Find an SBA Lender in Florida