Citibank Gives SBA Loan to Backyard Sports Inc

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

By giving the right information to Citibank, this Miami, Florida business was able to get an SBA loan. To get this loan, Backyard Sports Inc 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

BACKYARD SPORTS INC
9990 SOUTHWEST 77TH AVE STE
MIAMI, FL 33156

SBA Loan Lender

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

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

451110 - Sporting Goods Stores

Loan Approval Date

7/19/2004

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower, Backyard Sports Inc, 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 5 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

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

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citibank and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

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

Related Links:

Business Cash Advances

SBA Approved Banks in Miami, Florida

Florida SBA 7A Lenders

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