SBA Loan from Ocean Bank Helps Aluminum World, Inc

An SBA loan from Ocean Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hialeah, Florida business owner got a $150,000 loan.

Aluminum World, Inc knew how to go about getting a business bank loan. Based in Hialeah, Florida, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Ocean Bank, based in Miami, Florida.

SBA Loan Borrower

ALUMINUM WORLD, INC
1767 WEST 37TH STREET #18
HIALEAH, FL 33012

SBA Loan Lender

OCEAN BANK
780 NW 42ND AVE
MIAMI, FL 33126

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1799 - Special Trade Contractors, N.E.C.-Base Hsing Maint

NAICS Code

235990 - All Other Special Trade Contractors

Loan Approval Date

10/11/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower, Aluminum World, Inc, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this Aluminum World, Inc loan from Ocean Bank 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 SBA loan database.

Related Links:

Small Business Loan

SBA Banks in Miami, Florida

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