Financing for Building Material Dealers

With these loans for building material dealers, the SBA guarantees the lender that the loan will be repaid. This building material dealers loan for $80,000 was given to a Florida entrepreneur in 2001.

Southern Electric Pipe Company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Ocean Bank, out of Miami, Florida. The loan was granted and they received $80,000 to help grow their Medley, Florida business.

SBA Loan Borrower

SOUTHERN ELECTRIC PIPE COMPANY
8274 NORTHWEST SOUTH RIVER D
MEDLEY, FL 33166

SBA Loan Lender

OCEAN BANK
780 NW 42ND AVE
MIAMI, FL 33126

This lender issued this particular 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

5063 - Electrical Apparatus & Equipment, Wiring Supplies

NAICS Code

444190 - Other Building Material Dealers

Loan Approval Date

7/18/2001

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower, Southern Electric Pipe Company, 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 5 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

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 Southern Electric Pipe Company did when it applied for and received this $80,000 loan. Remember, you control your own destiny.

About This SBA Loan Information:

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

Related Links:

The Art of Bootstrapping

Small Business Banks in Miami, Florida

Florida SBA 7A Lenders

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