Miami, Florida Business Gets SBA-Guaranteed Funding from Sun American Bank

An SBA loan from Sun American 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 $500,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Miami, Florida was able to borrow $500,000 from Sun American Bank. The SBA made the loan possible by guaranteeing $450,000 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS
MIAMI, FL 33172

SBA Loan Lender

SUN AMERICAN BANK
9293 GLADES RD
BOCA RATON, FL 33434

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5199 - Nondurable Goods

NAICS Code

422990 - Nondurable Goods Wholesalers

Loan Approval Date

9/28/2001

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $450,000.

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 30 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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