Citibank Gives Business Loan to Vino Inc

Looking to get a Florida bank loan? This Florida entrepreneur got a bank loan, provided by a California bank that works with the SBA to help small business owners.

By giving the right information to Citibank, this Miami, Florida business was able to get an SBA loan. To get this loan, Vino Inc gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

VINO INC
1601 WASHINGTON AVENUE STE 1
MIAMI, FL 33139

SBA Loan Lender

CITIBANK
ONE SANSOME ST
SAN FRANCISCO, CA 94104

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

424810 - Beer and Ale Merchant Wholesalers

Loan Approval Date

7/25/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower, Vino Inc, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Don't apply for a loan directly with the SBA. You need to 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like Vino Inc did when it applied for and received this $25,000 loan. Remember, fight for what you want, and it will be yours!

About This SBA Loan Information:

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

Related Links:

Business Line of Credit

SBA 7A Banks for San Francisco, California Loans

SBA Lenders in California

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