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| Entrepreneur Resources | California Bank & Trust Sacramento Business Loans | ||||
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SBA Lenders That Lend to Florida Businesses
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Miami, Florida Entrepreneur Gets an SBA LoanWant a Florida business loan? This Florida entrepreneur got a business loan, provided by a California bank that works with the SBA to help small business owners.
El Manara Restaurant, based in Miami, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from California Bank & Trust. We've got the inside scoop on this Florida small business loan. SBA Loan Borrower EL MANARA RESTAURANT SBA Loan Lender CALIFORNIA BANK & TRUST The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 722110 - Full-Service Restaurants Loan Approval Date 12/2/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower, El Manara Restaurant, 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. The loan application indicated that the loan would help generate 2 new jobs and retain 5 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as El Manara Restaurant walked into California Bank & Trust and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Dealing With Venture Capitalists Best Banks for Small Business in Sacramento, California Browse All Business Loan Sources for California 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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