Miami, Florida Bank Gives SBA Loan to Sure Electrical Contractors, I

Want to talk with a Miami, Florida bank about a business loan? Here's one Florida business loan, issued by a Miami bank, that was approved by the SBA.

Applying for an SBA loan with Ocean Bank worked out well for our friends at Sure Electrical Contractors, I in Miami, Florida. The business was able to get an SBA loan for $83,060. Sweet!

SBA Loan Borrower

SURE ELECTRICAL CONTRACTORS, I
18505 SW 104N AVE #14
MIAMI, FL 33157

SBA Loan Lender

OCEAN BANK
780 NW 42ND AVE
MIAMI, FL 33126

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4911 - Electric Services - Based on Megawatt Hours not $

NAICS Code

221111 - Hydroelectric Power Generation

Loan Approval Date

10/3/2003

Loan Approval Gross Amount

$83,060

Loan Approval from the SBA

Of the total $83,060 loan amount, the SBA guaranteed $70,601.

More Information on This SBA Loan

The borrower, Sure Electrical Contractors, I, 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 6 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. Sure Electrical Contractors, I recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

About This SBA Loan Information:

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

Related Links:

Small Business Loan

SBA 7A Banks for Miami, Florida Loans

SBA Florida Banks

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