SBA Loan from Mercantil Commercebank National As Helps Tropex Construction Services

Mercantil Commercebank National As is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Florida entrepreneur who tapped into the power of SBA loans.

Tropex Construction 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 2004. The lending bank was Mercantil Commercebank National As, based in Hialeah, Florida.

SBA Loan Borrower

TROPEX CONSTRUCTION SERVICES
14395 SW 139 CT, UNIT 102
MIAMI, FL 33186

SBA Loan Lender

MERCANTIL COMMERCEBANK NATIONAL AS
1601 E 4TH AVE
HIALEAH, FL 33010

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1799 - Special Trade Contractors, N.E.C.-Base Hsing Maint

NAICS Code

238320 - Painting and Wall Covering Contractors

Loan Approval Date

6/4/2004

Loan Approval Gross Amount

$110,700

Loan Approval from the SBA

Of the total $110,700 loan amount, the SBA guaranteed $94,095.

More Information on This SBA Loan

The borrower, Tropex Construction Services, 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 10 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. If a firm like Tropex Construction Services is able to get a $110,700 loan, why not give getting an SBA loan of your own a try?

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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SBA 7A Banks in Hialeah, Florida

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