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| Entrepreneur Resources | Bank Of The West Truckee Business Loans | ||||
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Raising Money in Miami, Florida With SBA Loans
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Photography Studios, Portrait Commercial LoansLooking for commercial loans for photography studios, portrait? Try the SBA. This $112,000 photography studios, portrait loan was issued by a California bank.
South Florida Photo & Imaging knew how to go about getting a business bank loan. Based in Miami, Florida, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Bank Of The West, based in Truckee, California. SBA Loan Borrower SOUTH FLORIDA PHOTO & IMAGING SBA Loan Lender BANK OF THE WEST This lender issued this SBA business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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 7335 - Commercial Photography NAICS Code 541921 - Photography Studios, Portrait Loan Approval Date 4/1/2002 Loan Approval Gross Amount $112,000 Loan Approval from the SBA Of the total $112,000 loan amount, the SBA guaranteed $95,200. More Information on This SBA Loan The borrower, South Florida Photo & Imaging, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business 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 1/31/2007. Next Steps for Getting an SBA Loan Remember, 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of The West and they will explain how you can get an SBA loan for your company. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Small Bank Loans in Truckee, California SBA Participating Banks in California 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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