Ocean Bank SBA Loan to Tickled Pink, Inc.

An SBA loan from Ocean Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sunrise, Florida business owner got a $100,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sunrise, Florida was able to borrow $100,000 from Ocean Bank. The SBA made the loan possible by guaranteeing $85,000 of this Florida small business loan.

SBA Loan Borrower

TICKLED PINK, INC.
13171 WEST SUNRISE BOULEVARD
SUNRISE, FL 33323

SBA Loan Lender

OCEAN BANK
780 NW 42ND AVE
MIAMI, FL 33126

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7999 - Amusement and Recreation Services, N.E.C.

NAICS Code

713990 - All Other Amusement and Recreation Industries

Loan Approval Date

10/26/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower, Tickled Pink, Inc., borrowed this money for a new 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 7 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at Tickled Pink, Inc., may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

About This SBA Loan Information:

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

Related Links:

The Art of Bootstrapping

SBA Approved Banks in Miami, Florida

Florida SBA Banks

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