Miami, Florida Business Gets SBA-Guaranteed Funding from Community Bank Of Florida

Community Bank Of Florida and the SBA work together to get business loans for growing small businesses. Here's an example of how a Florida entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Miami, Florida was able to borrow $271,000 from Community Bank Of Florida. The SBA made the loan possible by guaranteeing $203,250 of this Florida small business loan.

SBA Loan Borrower

SOROA ORCHIDS, INC.
15851 SW 198TH AVENUE
MIAMI, FL 33187

SBA Loan Lender

COMMUNITY BANK OF FLORIDA
28801 SW 157TH AVE
HOMESTEAD, FL 33030

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5992 - Florists

NAICS Code

453110 - Florists

Loan Approval Date

8/29/2001

Loan Approval Gross Amount

$271,000

Loan Approval from the SBA

Of the total $271,000 loan amount, the SBA guaranteed $203,250.

More Information on This SBA Loan

The borrower, Soroa Orchids, Inc., borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 2/7/2008.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Soroa Orchids, Inc. got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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 Business Banks in Homestead, Florida

Where to Get an SBA Loan Florida

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