Paint and Coating Manufacturing Commercial Loans

Looking for commercial loans for paint and coating manufacturing? Try the SBA. This $60,000 paint and coating manufacturing loan was issued by a Florida bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hialeah, Florida was able to borrow $60,000 from Ocean Bank. The SBA made the loan possible by guaranteeing $51,000 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTS, VARNISHES, LACQUERS, AND ENAMELS
HIALEAH, FL 33016

SBA Loan Lender

OCEAN BANK
780 NW 42ND AVE
MIAMI, FL 33126

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2851 - Paints, Varnishes, Lacquers, and Enamels

NAICS Code

325510 - Paint and Coating Manufacturing

Loan Approval Date

5/4/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 this company walked into Ocean Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Equity Financing

Small Business Banks in Miami, Florida

Where to Get an SBA Loan Florida