Miami, Florida Entrepreneur Gets a Small Business Loan

Would a Florida small business loan help your small business to grow and prosper? If so, you may want to talk with this Texas bank, which offers SBA loans to Florida entrepreneurs.

By giving the right information to Comerica Bank, this Miami, Florida business was able to get an SBA loan. To get this loan, Coral Silver 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

CORAL SILVER
755 NW 72ND AVENUE UNITS 110
MIAMI, FL 33126

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423940 - Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers

Loan Approval Date

6/15/2004

Loan Approval Gross Amount

$558,000

Loan Approval from the SBA

Of the total $558,000 loan amount, the SBA guaranteed $418,500.

More Information on This SBA Loan

The borrower, Coral Silver, 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 16 employees. The loan application indicated that the loan would help retain 16 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. Coral Silver recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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