Commercial and Institutional Building Construction Business Loans

With these business loans for commercial and institutional building construction, the SBA guarantees the lender that the loan will be repaid. This commercial and institutional building construction loan for $360,000 was given to a Florida entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Miami, Florida was able to borrow $360,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $270,000 of this Florida small business loan.

SBA Loan Borrower

SUNSET DEVELOPMENT, INC.
1941-2005 NW 21ST TERR
MIAMI, FL 33142

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6552 - Land Subdividers and Developers, Except Cemeteries

NAICS Code

233320 - Commercial and Institutional Building Construction

Loan Approval Date

6/21/2002

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower, Sunset Development, Inc., borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 16 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 9/30/2004.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Sunset Development, Inc. needed a loan. Comerica Bank probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Comerica Bank made the loan. The end result was that Sunset Development, Inc. was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

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

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