Miami, Florida Entrepreneur Gets a Business Loan

Would a Florida small business loan help your small business to grow and prosper? If so, you may want to talk with this New York bank, which offers SBA loans to Florida entrepreneurs.

Mc Multicopier Wholesale Inc, based in Miami, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Hsbc Bank Usa. We've got the inside scoop on this Florida small business loan.

SBA Loan Borrower

MC MULTICOPIER WHOLESALE INC
7228 NW 56 ST
MIAMI, FL 33166

SBA Loan Lender

HSBC BANK USA
360 S WARREN ST
SYRACUSE, NY 13202

This lender processed this bank 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

423420 - Office Equipment Merchant Wholesalers

Loan Approval Date

6/24/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower, Mc Multicopier Wholesale Inc, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. The SBA loan application for the borrower indicated that the loan would help generate 9 new jobs and retain 11 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as Mc Multicopier Wholesale Inc walked into Hsbc Bank Usa and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money!

About This SBA Loan Information:

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

Related Links:

Alternative Financing

SBA Approved Banks in Syracuse, New York

SBA New York Lenders

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.