Loans for Construction Material Merchant Wholesalers

With these loans for construction material merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This construction material merchant wholesalers loan for $100,000 was given to a Florida entrepreneur in 2004.

Asia Commercial International received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Capital One, out of Mclean, Virginia. The loan was granted and they received $100,000 to help grow their Miami, Florida business.

SBA Loan Borrower

Asia Commercial International
12380 SW 130th St
Miami, FL 33186

SBA Loan Lender

CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102

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

423390 - Other Construction Material Merchant Wholesalers

Loan Approval Date

11/22/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower, Asia Commercial International, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the company planned 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 1/23/2008.

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

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. Asia Commercial International recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

About This SBA Loan Information:

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

Related Links:

Startup Funding Tip

Where to Get an SBA Loan in Mclean, Virginia

Virginia SBA 7A Lenders

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