Entrepreneur Works With Miami, Florida Bank to Get an SBA Loan

A Miami, Florida small business loan can be yours. Learn how Boundless Yoga LLC got a $10,000 business loan from this Florida bank.

This loan to Boundless Yoga LLC is a good example of an SBA loan. Citibank made the loan and the SBA guaranteed a portion of the loan. Many other District of Columbia entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

BOUNDLESS YOGA LLC
1510 U STREET NORTHWEST
WASHINGTON, DC 20009

SBA Loan Lender

CITIBANK
8750 DORAL BLVD, 7TH FL
MIAMI, FL 33178

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

611620 - Sports and Recreation Instruction

Loan Approval Date

8/24/2004

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower, Boundless Yoga LLC, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Citibank 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:

Determining Proper Capital Structure for a Business

SBA Banks in Miami, Florida

Getting an SBA Loan in Florida

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