SBA Loan from Terrabank Helps Square One Armoring Services

Terrabank 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.

Square One Armoring Services knew how to go about getting a business bank loan. Based in Miami, Florida, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Terrabank, based in Miami, Florida.

SBA Loan Borrower

SQUARE ONE ARMORING SERVICES
1435 NW 82 AVE
MIAMI, FL 33126

SBA Loan Lender

TERRABANK
3191 CORAL WAY
MIAMI, FL 33145

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3711 - Motor Vehicles and Passenger Car Bodies

NAICS Code

336992 - Military Armored Vehicle, Tank, and Tank Component Manufacturing

Loan Approval Date

8/22/2001

Loan Approval Gross Amount

$1,330,000

Loan Approval from the SBA

Of the total $1,330,000 loan amount, the SBA guaranteed $997,500.

More Information on This SBA Loan

The borrower, Square One Armoring Services, 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 60 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 6/30/2006.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

We can help you find the best banks for small businesses in Miami or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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