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| Entrepreneur Resources | Regions Bank Memphis Business Loans | ||||
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SBA Lenders for Miami Small Businesses
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Miami Subs Gets a Florida Small Business LoanSmall business loans in Florida are hard to find these days. We take a look at one Florida small business loan, provided by a Tennessee bank, that was approved by the SBA.
By giving the right information to Regions Bank, this Miami, Florida business was able to get an SBA loan. To get this loan, Miami Subs 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 MIAMI SUBS SBA Loan Lender REGIONS BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722310 - Food Service Contractors Loan Approval Date 6/28/2002 Loan Approval Gross Amount $1,210,000 Loan Approval from the SBA Of the total $1,210,000 loan amount, the SBA guaranteed $797,498. More Information on This SBA Loan The borrower, Miami Subs, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 40 employees. This SBA loan request indicated that the loan would help retain 40 existing jobs. This loan was paid in full, and was closed out on 11/2/2005. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. If Miami Subs can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Banking Deregulation's Effects on Entrepreneurship Find an SBA Lender in Memphis, Tennessee 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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