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| Entrepreneur Resources | Bankunited, Fsb Coral Gables Business Loans | ||||
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How to Get SBA Loans in Miami, Florida
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SBA Loans for General Line Grocery Merchant WholesalersWith these SBA loans for general line grocery merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This general line grocery merchant wholesalers loan for $200,000 was given to a Florida entrepreneur in 2006.
Distribution & Trade Services knew how to go about getting a business bank loan. Based in Miami, Florida, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Bankunited, Fsb, based in Coral Gables, Florida. SBA Loan Borrower DISTRIBUTION & TRADE SERVICES SBA Loan Lender BANKUNITED, FSB This small business 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 424410 - General Line Grocery Merchant Wholesalers Loan Approval Date 2/8/2006 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $100,000. More Information on This SBA Loan The borrower, Distribution & Trade Services, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 5 existing jobs. This loan was paid in full, and was closed out on 5/30/2007. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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: Where to Get an SBA Loan 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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