Coconut Grove, Florida Bank Lends Money to Household Appliance Stores Company in Coral Gables, Florida

Find Coconut Grove, Florida banks that specialize in SBA loans and know how to work with entrepreneurs. Sun American Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Coral Gables, Florida starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Sun American Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
CORAL GABLES, FL 33146

SBA Loan Lender

SUN AMERICAN BANK
2770 SW 27TH AVE
COCONUT GROVE, FL 33133

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5722 - Household Appliance Stores

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

4/5/2006

Loan Approval Gross Amount

$310,000

Loan Approval from the SBA

Of the total $310,000 loan amount, the SBA guaranteed $232,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sun American Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Accountant's Role in Securing Financing

SBA 7A Banks in Coconut Grove, Florida

Getting a Business Loan in Florida