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| Entrepreneur Resources | Ocean Bank Miami Business Loans | ||||
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SBA 7A Banks for Coral Gables Business Owners
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Loans for Travel AgenciesLooking for loans for travel agencies? Talk to a banker who works with the SBA. This $100,000 travel agencies loan was issued by a Florida bank.
M.K. Travel & Tour, Inc. knew how to go about getting a business bank loan. Based in Coral Gables, Florida, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Ocean Bank, based in Miami, Florida. SBA Loan Borrower M.K. TRAVEL & TOUR, INC. SBA Loan Lender OCEAN BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce 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. 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 4724 - Travel Agencies NAICS Code 561510 - Travel Agencies Loan Approval Date 4/9/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower, M.K. Travel & Tour, Inc., borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 45 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as M.K. Travel & Tour, Inc. walked into Ocean Bank and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Good Banks for Small Business in Miami, Florida If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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