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| Entrepreneur Resources | Citibank Miami Business Loans | ||||
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SBA Lenders for San Francisco Businesses
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Offices of Lawyers Business LoansWith these business loans for offices of lawyers, the SBA guarantees the lender that the loan will be repaid. This offices of lawyers loan for $25,000 was given to a California entrepreneur in 2002.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Francisco, California was able to borrow $25,000 from Citibank. The SBA made the loan possible by guaranteeing $12,500 of this California small business loan. SBA Loan Borrower CHANG SHIK SHIN LAW OFFICES SBA Loan Lender CITIBANK 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 541110 - Offices of Lawyers Loan Approval Date 2/5/2002 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, Chang Shik Shin Law Offices, 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. This loan was paid in full, and was closed out on 9/26/2007. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as Chang Shik Shin Law Offices walked into Citibank and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Obtaining Funding - How to Decide How Much to Raise SBA Participating Banks in Miami, 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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