Getting an SBA Loan for Accounting Services

With these commercial loans for accounting services, the SBA guarantees the lender that the loan will be repaid. This accounting services loan for $28,000 was given to a Florida entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hialeah, Florida was able to borrow $28,000 from Ocean Bank. The SBA made the loan possible by guaranteeing $23,800 of this Florida small business loan.

SBA Loan Borrower

PHYSICIANS BILLING & PRACTICE
900 WEST 49TH ST
HIALEAH, FL 33012

SBA Loan Lender

OCEAN BANK
780 NW 42ND AVE
MIAMI, FL 33126

This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8721 - Accounting, Auditing, and Bookkeeping Services

NAICS Code

541219 - Other Accounting Services

Loan Approval Date

1/17/2002

Loan Approval Gross Amount

$28,000

Loan Approval from the SBA

Of the total $28,000 loan amount, the SBA guaranteed $23,800.

More Information on This SBA Loan

The borrower, Physicians Billing & Practice, borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If Physicians Billing & Practice can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Obtaining Funding From a Venture Capitalist

SBA 7A Banks for Miami, Florida Loans

SBA Florida Banks

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