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| Entrepreneur Resources | Ocean Bank Miami Business Loans | ||||
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Ocean Bank
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SBA Loan from Ocean Bank Helps Yachting Technologies, Corp.Ocean Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Florida entrepreneur was able to get a loan to take a small business to the next level.
Yachting Technologies, Corp. received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Ocean Bank, out of Miami, Florida. The loan was granted and they received $90,000 to help grow their Miami, Florida business. SBA Loan Borrower YACHTING TECHNOLOGIES, CORP. SBA Loan Lender OCEAN BANK This lender issued this particular SBA small business 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. NAICS Code 453998 - All Other Miscellaneous Store Retailers (except Tobacco Stores) Loan Approval Date 3/15/2004 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. More Information on This SBA Loan The borrower, Yachting Technologies, Corp., 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 8 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Ocean Bank and they will explain how you can get an SBA loan for your company. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Obtaining Funding - Friends and Family Best Miami, Florida Banks for Small Business 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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