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| Entrepreneur Resources | Sun American Bank Boca Raton Business Loans | ||||
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What Does It Take to Get a Business Loan in Miami, Florida?
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Commercial Loans for Durable Goods WholesalersLooking for commercial loans for durable goods wholesalers? Talk to a banker who works with the SBA. This $60,000 durable goods wholesalers loan was issued by a Florida bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Miami, Florida was able to borrow $60,000 from Sun American Bank. The SBA made the loan possible by guaranteeing $51,000 of this Florida small business loan. SBA Loan Borrower UNLIMITED OPTICAL, INC. SBA Loan Lender SUN AMERICAN BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5099 - Durable Goods, N.E.C. NAICS Code 421990 - Other Miscellaneous Durable Goods Wholesalers Loan Approval Date 7/31/2003 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. More Information on This SBA Loan The borrower, Unlimited Optical, Inc., 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 2 employees. The loan application did not indicate that the small 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 11/22/2006. Great, But How Can I Get an SBA Loan for My Business? If you are raising money in Miami FL, you ought to talk with a local Miami SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Miami businesses. If Unlimited Optical, Inc. can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Obtaining Funding - How to Decide How Much to Raise SBA Banks in Boca Raton, Florida 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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