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| Entrepreneur Resources | Ocean Bank Miami Business Loans | ||||
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How to Get SBA Loans in Hialeah, Florida
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Paint and Coating Manufacturing SBA LoansLooking for SBA loans for paint and coating manufacturing? Try the SBA. This $60,000 paint and coating manufacturing loan was issued by a Florida bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hialeah, Florida was able to borrow $60,000 from Ocean Bank. The SBA made the loan possible by guaranteeing $51,000 of this Florida small business loan. SBA Loan Borrower EZ PAINT, INC. SBA Loan Lender OCEAN BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2851 - Paints, Varnishes, Lacquers, Enamels, Allied Produ NAICS Code 325510 - Paint and Coating Manufacturing Loan Approval Date 5/4/2001 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. More Information on This SBA Loan The borrower, Ez Paint, Inc., borrowed this money for a new 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 6 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. This loan was paid in full, and was closed out on 5/30/2007. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. 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 Ez Paint, 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: Small Business Banks in Miami, Florida Where to Get an SBA Loan 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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