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| Entrepreneur Resources | Bankunited, Fsb Coral Gables Business Loans | ||||
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SBA 7A Banks for Miami Small Business Owners
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General Automotive Repair Small Business LoansLooking for small business loans for general automotive repair? An SBA loan may be just what you've been looking for. This $25,000 general automotive repair loan was issued by a Florida bank.
Getting a small business loan in Miami, Florida was important for Benny & Allan's Automotive Services, Inc. back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Bankunited, Fsb, operating out of Coral Gables, Florida. Here are the details on this Florida small business loan. SBA Loan Borrower Benny & Allan's Automotive Services, Inc. SBA Loan Lender BANKUNITED, FSB This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 811111 - General Automotive Repair Loan Approval Date 2/15/2006 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower, Benny & Allan's Automotive Services, 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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. This loan was paid in full, and was closed out on 3/30/2007. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: SBA Approved 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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