Flores Cigars Corporation Gets a Florida Bank Loan
SBA loans in Florida are tough to come by these days. We take a look at one Florida SBA loan, provided by a New York bank, that was approved by the SBA.
You can learn something about getting a small business loan in Miami, Florida by studying this loan to Flores Cigars Corporation, made back in 2007. Banks like Banco Popular North America may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
FLORES CIGARS CORPORATION
139 NE 1ST STREET SUITE 313
MIAMI, FL 33130
SBA Loan Lender
BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019
The lender provided this loan for a small business 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
424940 - Tobacco and Tobacco Product Merchant Wholesalers
Loan Approval Date
6/28/2007
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
More Information on This SBA Loan
The borrower, Flores Cigars Corporation, 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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.
Getting an SBA Loan For Your Business
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Banco Popular North America and they will explain how you can get an SBA loan for your company.
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's SBA loan database.
Related Links:
Role of Business Plan When Raising Money
Where to Get an SBA Loan in New York City, New York
New York SBA 7A Lenders
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