SBA Loan from Transatlantic Bank Helps Automotive Services Company

An SBA loan from Transatlantic Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Miami, Florida business owner got a $180,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Miami, Florida was able to borrow $180,000 from Transatlantic Bank. The SBA made the loan possible by guaranteeing $135,000 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
MIAMI, FL 33155

SBA Loan Lender

TRANSATLANTIC BANK
48 E FLAGLER ST
MIAMI, FL 33131

This lender issued this loan for a small business under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

1/12/2001

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $135,000.

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 27 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

We can help you find the best banks for small businesses in Miami or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Business Credit Evaluation

Best Banks for Small Business in Miami, Florida

SBA Participating Banks in Florida