Florida Bank Loan Issued to Jam Balloon Corp
Looking to get a Florida SBA loan? This Florida entrepreneur got an SBA loan, provided by a Virginia bank that works with the SBA to help small business owners.
You can learn something about getting a small business loan in Miami, Florida by studying this loan to Jam Balloon Corp, made back in 2003. Banks like Capital One may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
JAM BALLOON CORP
8895 FOUNTAINBLEAU BLVD APT
MIAMI, FL 33172
SBA Loan Lender
CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102
This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
611699 - All Other Miscellaneous Schools and Instruction
Loan Approval Date
10/30/2003
Loan Approval Gross Amount
$35,000
Loan Approval from the SBA
Of the total $35,000 loan amount, the SBA guaranteed $17,500.
More Information on This SBA Loan
The borrower, Jam Balloon Corp, 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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. This loan was paid in full, and was closed out on 2/4/2005.
Start the Process for Getting an SBA Loan Today!
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
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:
The Friends and Family Network
SBA Approved Banks in Mclean, Virginia
Virginia SBA 7A Banks
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