Miami, Florida Entrepreneur Gets an SBA Loan

Would a Florida small business loan help your small business to grow and prosper? If so, you may want to talk with this Utah bank, which offers SBA loans to Florida entrepreneurs.

This small business, based in Miami, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Amer Express Centurion Bk. We've got the inside scoop on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION MATERIAL MERCHANT WHOLESALERS
MIAMI, FL 33162

SBA Loan Lender

AMER EXPRESS CENTURION BK
4315 S 2700 WEST, MC 01-04
SALT LAKE CITY, UT 84184

This SBA 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

423390 - Construction Material Merchant Wholesalers

Loan Approval Date

9/8/2003

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 12 existing jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Miami FL, you ought to talk with a local Miami SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Miami businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Realistic Debt Financing Options

Small Bank Loans in Salt Lake City, Utah

Utah SBA Banks