Miami, Florida Entrepreneur Gets a Bank Loan

Florida SBA loans are available to Florida entrepreneurs through the SBA. In this case, a Florida bank provides the loan.

Getting a small business loan in Miami, Florida was a top priority for Andy's Mortgage Center Inc back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Citibank. Here are the details on this Florida small business loan.

SBA Loan Borrower

ANDY'S MORTGAGE CENTER INC
175 FONTAINBLEAU BLVD #1G2
MIAMI, FL 33172

SBA Loan Lender

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

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

522292 - Real Estate Credit

Loan Approval Date

2/14/2005

Loan Approval Gross Amount

$97,000

Loan Approval from the SBA

Of the total $97,000 loan amount, the SBA guaranteed $48,500.

More Information on This SBA Loan

The borrower, Andy's Mortgage Center Inc, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 8 existing jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan to Andy's Mortgage Center Inc shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

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

Related Links:

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Small Bank Loans in Miami, Florida

Florida SBA Banks

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