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| Entrepreneur Resources | Eagle National Bank Of Miami Miami Business Loans | ||||
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Miami, Florida Bank for SBA Loans
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Borrowing Money for Transportation Equipment and Supplies Merchant WholeWith these loans for transportation equipment and supplies merchant whole, the SBA guarantees the lender that the loan will be repaid. This transportation equipment and supplies merchant whole loan for $500,000 was given to a Florida entrepreneur in 2005.
Getting a small business loan in Miami, Florida was important for Fastcol, Inc. back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Eagle National Bank Of Miami, operating out of Miami, Florida. Here are the details on this Florida small business loan. SBA Loan Borrower FASTCOL, INC. SBA Loan Lender EAGLE NATIONAL BANK OF MIAMI This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423860 - Transportation Equipment and Supplies (except Motor Vehicle) Merchant Whole Loan Approval Date 11/4/2005 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $450,000. More Information on This SBA Loan The borrower, Fastcol, Inc., borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 11/26/2007. 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Fastcol, Inc. needed a loan. Eagle National Bank Of Miami probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Eagle National Bank Of Miami made the loan. The end result was that Fastcol, Inc. was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Small Bank Loans in Miami, Florida Getting an SBA Loan in 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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