SBA Loans for Polystyrene Foam Product Manufacturing

With these SBA loans for polystyrene foam product manufacturing, the SBA guarantees the lender that the loan will be repaid. This polystyrene foam product manufacturing loan for $150,000 was given to a Florida entrepreneur in 2001.

Meltpoint Plastics Internation knew how to go about getting a business bank loan. Based in Miami, Florida, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Ocean Bank, based in Miami, Florida.

SBA Loan Borrower

MELTPOINT PLASTICS INTERNATION
2535 SW 125TH COURT
MIAMI, FL 33175

SBA Loan Lender

OCEAN BANK
780 NW 42ND AVE
MIAMI, FL 33126

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3086 - Plastics Foam Products

NAICS Code

326140 - Polystyrene Foam Product Manufacturing

Loan Approval Date

1/10/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower, Meltpoint Plastics Internation, 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. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan to Meltpoint Plastics Internation shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

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

Related Links:

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SBA Approved Banks in Miami, Florida

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