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| Entrepreneur Resources | Ocean Bank Miami Business Loans | ||||
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SBA Loan from Ocean Bank
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Miami, Florida Business Gets SBA-Guaranteed Funding from Ocean BankOcean Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Florida entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Miami, Florida was an essential business goal for Fine Line Auto Parts, LLC back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Ocean Bank, operating out of Miami, Florida. Here are the details on this Florida small business loan. SBA Loan Borrower FINE LINE AUTO PARTS, LLC SBA Loan Lender OCEAN BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5013 - Motor Vehicle Supplies and New Parts NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 11/28/2006 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. More Information on This SBA Loan The borrower, Fine Line Auto Parts, LLC, borrowed this money for a new 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 5 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. If Fine Line Auto Parts, LLC can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Obtaining Funding - How to Decide How Much to Raise Where to Get an SBA Loan in Miami, 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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