Salon Freddy Corp. Gets a Florida SBA Loan

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

Salon Freddy Corp., 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 First Priority Bank. We've got the inside scoop on this Florida small business loan.

SBA Loan Borrower

SALON FREDDY CORP.
8281 SW 40TH ST
MIAMI, FL 33155

SBA Loan Lender

FIRST PRIORITY BANK
4702 CORTEZ RD WEST
BRADENTON, FL 34210

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

5/18/2004

Loan Approval Gross Amount

$454,000

Loan Approval from the SBA

Of the total $454,000 loan amount, the SBA guaranteed $340,500.

More Information on This SBA Loan

The borrower, Salon Freddy Corp., 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 14 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees. This loan was paid in full, and was closed out on 1/3/2008.

Next Steps for Getting an SBA Loan

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

If Salon Freddy Corp. 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:

Financing Your Business

Small Bank Loans in Bradenton, Florida

Getting a Business Loan in Florida

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