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| Entrepreneur Resources | Banco Popular North America New York City Business Loans | ||||
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SBA Lender Miami Florida
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Banco Popular North America Gives Bank Loan to Ashley Art & Frame CorpFlorida small business loans are available to Florida small business owners through the SBA. In this case, a New York bank provides the loan.
Ashley Art & Frame Corp, based in Miami, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Banco Popular North America. We've got the inside scoop on this Florida small business loan. SBA Loan Borrower ASHLEY ART & FRAME CORP SBA Loan Lender BANCO POPULAR NORTH AMERICA The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 339999 - All Other Miscellaneous Manufacturing Loan Approval Date 5/16/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower, Ashley Art & Frame Corp, borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Microlending as a Small Business Funding Source SBA 7A Lenders in New York City, New York Browse All Business Loan Sources for New York 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.
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