Consumer Goods Rental SBA Loans

With these SBA loans for consumer goods rental, the SBA guarantees the lender that the loan will be repaid. This consumer goods rental loan for $34,800 was given to a Florida entrepreneur in 2001.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Suntrust Bank, out of Miami, Florida. The loan was granted and they received $34,800 to help grow their Miami, Florida business.

SBA Loan Borrower

COMPANY TYPE: EQUIPMENT RENTAL AND LEASING
MIAMI, FL 33157

SBA Loan Lender

SUNTRUST BANK
777 BRICKELL AVE
MIAMI, FL 33143

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7359 - Equipment Rental and Leasing

NAICS Code

532299 - Consumer Goods Rental

Loan Approval Date

1/8/2001

Loan Approval Gross Amount

$34,800

Loan Approval from the SBA

Of the total $34,800 loan amount, the SBA guaranteed $29,580.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Suntrust Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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