Margate, Florida Entrepreneur Gets a Business Loan

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

You can learn something about getting a small business loan in Margate, Florida by studying this loan to All Custom Creations Inc, made back in 2004. Banks like Citibank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

ALL CUSTOM CREATIONS INC
7656 NORTHWEST 25TH ST
MARGATE, FL 33063

SBA Loan Lender

CITIBANK
8750 DORAL BLVD, 7TH FL
MIAMI, FL 33178

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

451130 - Sewing, Needlework, and Piece Goods Stores

Loan Approval Date

6/14/2004

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

More Information on This SBA Loan

The borrower, All Custom Creations Inc, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. This loan was paid in full, and was closed out on 2/22/2006.

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

Remember, you 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like All Custom Creations Inc did when it applied for and received this $15,000 loan. Remember, feel the fear, and do it anyway.

About This SBA Loan Information:

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

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