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| Entrepreneur Resources | Ocean Bank Miami Business Loans | ||||
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Miami Bank Loan
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Miami, Florida Bank Gives SBA Loan to Valentini Italian SpecialtiesFind Miami, Florida banks that specialize in small business loans and know how to work with entrepreneurs. Ocean Bank is one such bank, as evidenced by this SBA loan to Valentini Italian Specialties.
Finding a small business loan in Miami, Florida starts with an understanding of who else has gotten loans in the area. In this case, Valentini Italian Specialties received funding from Ocean Bank Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower VALENTINI ITALIAN SPECIALTIES SBA Loan Lender OCEAN BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2024 - Ice Cream and Frozen Desserts NAICS Code 311520 - Ice Cream and Frozen Dessert Manufacturing Loan Approval Date 5/6/2002 Loan Approval Gross Amount $69,000 Loan Approval from the SBA Of the total $69,000 loan amount, the SBA guaranteed $58,650. More Information on This SBA Loan The borrower, Valentini Italian Specialties, 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 6 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Valentini Italian Specialties is able to get a $69,000 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: Good Banks for Small Business in Miami, Florida Where to Get an SBA Loan 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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