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| Entrepreneur Resources | Ocean Bank Miami Business Loans | ||||
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Miami, Florida Bank for SBA Loans
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Miami, Florida Entrepreneur Gets an SBA LoanBusiness loans in Florida are are few and far betweeen these days. We take a look at one Florida business loan, provided by a Florida bank, that was approved by the SBA.
By giving the right information to Ocean Bank, this Miami, Florida business was able to get an SBA loan. To get this loan, Sani-Chem Products Corporation 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 SANI-CHEM PRODUCTS CORPORATION SBA Loan Lender OCEAN BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5162 - Plastics Materials and Basic Forms and Shapes NAICS Code 424610 - Plastics Materials and Basic Forms and Shapes Merchant Wholesalers Loan Approval Date 11/21/2003 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. More Information on This SBA Loan The borrower, Sani-Chem Products Corporation, borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this Sani-Chem Products Corporation loan from Ocean Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: 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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