Knoxville, Tennessee Bank Lends Money to South Florida Fine Art Service in Miami, Florida

Get SBA loans from a Knoxville, Tennessee bank that knows how to treat small business owners right! If South Florida Fine Art Service can get a loan, there's no reason you can't do it too.

Community So. Bank D.B.A Commun is a Knoxville, Tennessee small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to South Florida Fine Art Service a Florida company.

SBA Loan Borrower

SOUTH FLORIDA FINE ART SERVICE
3808 N.W. 32 AVENUE
MIAMI, FL 33142

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began 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.

NAICS Code

493110 - General Warehousing and Storage

Loan Approval Date

10/11/2007

Loan Approval Gross Amount

$402,000

Loan Approval from the SBA

Of the total $402,000 loan amount, the SBA guaranteed $301,500.

More Information on This SBA Loan

The borrower, South Florida Fine Art Service, 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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you 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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this South Florida Fine Art Service loan from Community So. Bank D.B.A Commun 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:

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Who Lends Money to Small Businesses in Knoxville, Tennessee

Tennessee SBA Bank Lenders

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