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| Entrepreneur Resources | Bankunited, Fsb Coral Gables Business Loans | ||||
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Raising Money in Miami, Florida With SBA Loans
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Bankunited, Fsb Gives SBA Loan to Albani CorporationBank loans in Florida are tough to come by these days. We take a look at one Florida bank loan, provided by a Florida bank, that was approved by the SBA.
By giving the right information to Bankunited, Fsb, this Miami, Florida business was able to get an SBA loan. To get this loan, Albani Corporation gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower Albani Corporation SBA Loan Lender BANKUNITED, FSB 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 424990 - Other Miscellaneous Nondurable Goods Merchant Wholesalers Loan Approval Date 8/16/2007 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower, Albani Corporation, 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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan 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. If Albani Corporation can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Accountant's Role in Securing Financing SBA Participating Banks in Coral Gables, Florida 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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