Miami, Florida Entrepreneur Gets a Bank Loan
Bank loans in Florida are are few and far betweeen these days. We take a look at one Florida bank loan, provided by a California bank, that was approved by the SBA.
You can learn something about getting a small business loan in Miami, Florida by studying this loan to a local company, made back in 2002. Banks like Wachovia Sba Lending, Inc. may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: COSMETICS, BEAUTY SUPPLIES, AND PERFUME STORES
MIAMI, FL 33127
SBA Loan Lender
WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
446120 - Cosmetics, Beauty Supplies, and Perfume Stores
Loan Approval Date
1/7/2002
Loan Approval Gross Amount
$1,304,000
Loan Approval from the SBA
Of the total $1,304,000 loan amount, the SBA guaranteed $937,823.
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 SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 12 existing jobs.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
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 Wachovia Sba Lending, Inc. 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.
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