Florida Business Loan Issued to Electrical Apparatus And Equipment, Wiring Supplies, And Related Equipment Company

SBA loans in Florida are hard to find these days. We take a look at one Florida SBA loan, provided by a North Carolina bank, that was approved by the SBA.

You can learn something about getting a small business loan in Hialeah, Florida by studying this loan to a local business, made back in 2005. Banks like Bank Of America may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL APPARATUS AND EQUIPMENT, WIRING SUPPLIES, AND RELATED EQUIPMENT
HIALEAH, FL 33013

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

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

423610 - Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment

Loan Approval Date

3/23/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower 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 4 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

If you want money for new small business in Hialeah FL, you ought to talk with a local Hialeah SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hialeah businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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