Florida Bank Loan Issued to Total Solution Group, Inc.

Bank loans in Florida are hard to find these days. We take a look at one Florida bank loan, provided by a Florida bank, that was approved by the SBA.

By giving the right information to Ocean Bank, this Hialeah, Florida business was able to get an SBA loan. To get this loan, Total Solution Group, Inc. gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

TOTAL SOLUTION GROUP, INC.
4410 WEST 16TH AVENUE UNIT#6
HIALEAH, FL 33012

SBA Loan Lender

OCEAN BANK
780 NW 42ND AVE
MIAMI, FL 33126

This lender issued this particular commercial 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

4899 - Communications Services, N.E.C.

NAICS Code

513322 - Cellular and Other Wireless

Loan Approval Date

8/1/2001

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower, Total Solution Group, 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 4 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Ocean Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

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

Related Links:

Getting a Small Business Loan

SBA 7A Banks for Miami, Florida Loans

SBA Florida Lenders

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