Miami, Florida Business Gets SBA-Guaranteed Funding from Citibank

Citibank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Florida entrepreneur who tapped into the power of SBA loans.

A1a Auto Group Inc received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Citibank, out of San Francisco, California. The loan was granted and they received $100,000 to help grow their Miami, Florida business.

SBA Loan Borrower

A1A AUTO GROUP INC
16197 NORTHWEST 122ND AVENUE
MIAMI, FL 33018

SBA Loan Lender

CITIBANK
ONE SANSOME ST
SAN FRANCISCO, CA 94104

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

8/28/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower, A1a Auto Group Inc, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. A1a Auto Group Inc needed a loan. Citibank probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Citibank made the loan. The end result was that A1a Auto Group Inc was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

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

Related Links:

Direct Public Offerings

Who Lends Money to Small Businesses in San Francisco, California

SBA Participating Banks in California

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