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May 8, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Longwood, Business Loans > Orlando National Bank Longwood Business Loans > Employment Agencies Loan | ||||
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Orlando National Bank
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Winter Park, Florida Business Gets SBA-Guaranteed Funding from Orlando National BankAn SBA loan from Orlando National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Winter Park, Florida business owner got a $235,000 loan. This small firm knew how to go about getting a business bank loan. Based in Winter Park, Florida, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Orlando National Bank, based in Longwood, Florida. SBA Loan Borrower COMPANY TYPE: EMPLOYMENT AGENCIES SBA Loan Lender ORLANDO NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7361 - Employment Agencies Loan Approval Date 6/5/2000 Loan Approval Gross Amount $235,000 Loan Approval from the SBA Of the total $235,000 loan amount, the SBA guaranteed $176,250. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 5 new jobs and retain 5 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to raise money for a business in Winter Park FL, you ought to talk with a local Winter Park SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Winter Park businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Participating Banks in Florida
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