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| Entrepreneur Resources | First Priority Bank Bradenton Business Loans | ||||
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Florida Small Business SBA Loans
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M.E.I. Distributors Gets a Florida Small Business LoanSmall business loans in Florida are tough to come by these days. We take a look at one Florida small business loan, provided by a Florida bank, that was approved by the SBA.
By giving the right information to First Priority Bank, this Miami, Florida business was able to get an SBA loan. To get this loan, M.E.I. Distributors gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower M.E.I. DISTRIBUTORS SBA Loan Lender FIRST PRIORITY BANK At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program aims to offer quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers Loan Approval Date 6/13/2006 Loan Approval Gross Amount $177,000 Loan Approval from the SBA Of the total $177,000 loan amount, the SBA guaranteed $132,750. More Information on This SBA Loan The borrower, M.E.I. Distributors, 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 10 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 First Priority Bank 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: The Friends and Family Network Small Business Banks in Bradenton, Florida 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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