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| Entrepreneur Resources | Business Loan Center, LLC New York Business Loans | ||||
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Banks That Lend to Miami Small Business Owners
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Fanore, Inc. Gets a Florida Business LoanWould a Florida business loan help your company expand? If so, you may want to talk with this New York bank, which offers SBA loans to Florida entrepreneurs.
You can learn something about getting a small business loan in Miami, Florida by studying this loan to Fanore, Inc., made back in 2007. Banks like Business Loan Center, LLC may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower Fanore, Inc. SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 325620 - Toilet Preparation Manufacturing Loan Approval Date 10/11/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower, Fanore, 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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Borrowing Money from Friends and Family SBA Banks in New York, New York 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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