Miami, Florida Entrepreneur Gets a Bank Loan

Small business loans in Florida are tough to come by these days. We take a look at one Florida small business loan, provided by a Tennessee bank, that was approved by the SBA.

Getting a small business loan in Miami, Florida was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Regions Bank. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: CHEMICAL PRODUCT AND PREPARATION MANUFACTURING
MIAMI, FL 33185

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

325998 - Chemical Product and Preparation Manufacturing

Loan Approval Date

8/15/2001

Loan Approval Gross Amount

$40,200

Loan Approval from the SBA

Of the total $40,200 loan amount, the SBA guaranteed $20,100.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

The Friends and Family Network

SBA Participating Banks in Memphis, Tennessee

SBA Participating Banks in Tennessee