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December 21, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Miami, Business Loans > Ocean Bank Miami Business Loans > Special Trade Contractors Loan | ||||
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SBA Loans from Ocean Bank
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SBA Loan from Ocean Bank Helps Special Trade Contractors CompanyAn SBA loan from Ocean Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hialeah, Florida business owner got a $150,000 loan. This growing company knew how to go about getting a business bank loan. Based in Hialeah, Florida, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Ocean Bank, based in Miami, Florida. SBA Loan Borrower COMPANY TYPE: SPECIAL TRADE CONTRACTORS SBA Loan Lender OCEAN BANK This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1799 - Special Trade Contractors NAICS Code 235990 - Special Trade Contractors Loan Approval Date 10/11/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 4 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Ocean Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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:
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