Miami, Florida Entrepreneur Gets a Small Business Loan

Florida bank loans are available to Florida firms through the SBA. In this case, a Florida bank provides the loan.

By giving the right information to Metro Bank Of Dade County, this Miami, Florida business was able to get an SBA loan. To get this loan, Oxford Management Group, Inc. 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

OXFORD MANAGEMENT GROUP, INC.
10701 SW 104TH ST
MIAMI, FL 33176

SBA Loan Lender

METRO BANK OF DADE COUNTY
9350 S DIXIE HWY
MIAMI, FL 33156

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6163 - Loan Brokers

NAICS Code

522310 - Mortgage and Nonmortgage Loan Brokers

Loan Approval Date

4/26/2001

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, Oxford Management Group, Inc., 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 27 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 11/10/2003.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. Oxford Management Group, Inc. recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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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.