Happy House Furntiure Co., Inc Gets a Florida Small Business Loan

Business loans in Florida are tough to come by these days. We take a look at one Florida business loan, provided by a Florida 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 Happy House Furntiure Co., Inc, made back in 2003. Banks like Ocean Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

HAPPY HOUSE FURNTIURE CO., INC
3750 N.W. 114TH AVENUE BAY 7
MIAMI, FL 33178

SBA Loan Lender

OCEAN BANK
780 NW 42ND AVE
MIAMI, FL 33126

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5712 - Furniture Stores

NAICS Code

442110 - Furniture Stores

Loan Approval Date

11/12/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower, Happy House Furntiure Co., Inc, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Happy House Furntiure Co., Inc got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Business Credit Evaluation

Best Banks for Small Business in Miami, Florida

SBA Participating Banks in Florida

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