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| Entrepreneur Resources | Citibank San Francisco Business Loans | ||||
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Small Business Banks for Miami Businesses
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Painting and Wall Covering Commercial LoansWith these commercial loans for painting and wall covering, the SBA guarantees the lender that the loan will be repaid. This painting and wall covering loan for $50,000 was given to a Florida entrepreneur in 2006.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Miami, Florida was able to borrow $50,000 from Citibank. The SBA made the loan possible by guaranteeing $25,000 of this Florida small business loan. SBA Loan Borrower JEM PROPERTIES AND INVESTMENTS SBA Loan Lender CITIBANK This lender processed this 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 235210 - Painting and Wall Covering Loan Approval Date 7/14/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower, Jem Properties And Investments, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: Obtaining Funding - How to Decide How Much to Raise SBA Banks in San Francisco, California Getting a Business Loan in California 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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