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| Entrepreneur Resources | Newtek Small Business Finance Inc. New York Business Loans | ||||
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Newtek Small Business Finance Inc. SBA Loans Miami, Florida
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Business Loan from Newtek Small Business Finance Inc. Given to Home And Business SolutionsNewtek Small Business Finance Inc. has a track record as a leading provider of SBA loans. Find out how this Florida entrepreneur received an SBA loan from them.
Getting a small business loan in Miami, Florida was an essential business goal for Home And Business Solutions back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Newtek Small Business Finance Inc., operating out of New York, New York. Here are the details on this Florida small business loan. SBA Loan Borrower HOME AND BUSINESS SOLUTIONS SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811412 - Appliance Repair and Maintenance Loan Approval Date 7/10/2006 Loan Approval Gross Amount $670,000 Loan Approval from the SBA Of the total $670,000 loan amount, the SBA guaranteed $502,500. More Information on This SBA Loan The borrower, Home And Business Solutions, 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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Advice on Getting a Small Business Loan SBA Participating Banks in New York, New York 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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