Miami, Florida Entrepreneur Gets an SBA Loan
Business loans in Florida are hard to find these days. We take a look at one Florida business loan, provided by a North Carolina bank, that was approved by the SBA.
You can learn something about getting a small business loan in Miami, Florida by studying this loan to A.G.C. Cafeteria, Inc., made back in 2005. Banks like Bank Of America may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
A.G.C. Cafeteria, Inc.
7900 NW 27TH AVE #601
MIAMI, FL 33147
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
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
722211 - Limited-Service Restaurants
Loan Approval Date
9/14/2005
Loan Approval Gross Amount
$10,000
Loan Approval from the SBA
Of the total $10,000 loan amount, the SBA guaranteed $5,000.
More Information on This SBA Loan
The borrower, A.G.C. Cafeteria, 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. The SBA loan documents indicated that the loan would help retain 1 existing job. This loan was paid in full, and was closed out on 11/2/2006.
Great, But How Can I Get an SBA Loan for My Business?
Although it's called an SBA loan, 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 A.G.C. Cafeteria, Inc. did when it applied for and received this $10,000 loan. Remember, things become real when you believe you can achieve them!
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's SBA loan database.
Related Links:
Obtaining Funding - Getting Venture Capital
SBA Approved Banks in Charlotte, North Carolina
North Carolina SBA 7A Banks
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.