Miami, FL Entrepreneur Gets SBA Loan to Buy Pakmail Centers Of America Franchise

Need money to purchase a Pakmail Centers Of America franchise? Metro Bank Of Dade County has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Miami, Florida needed money to invest in a Pakmail Centers Of America franchise back in 2001. Metro Bank Of Dade County issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

PAKMAIL OLD CUTLER TOWN CENTER
MIAMI, FL 33183

SBA Loan Lender

METRO BANK OF DADE COUNTY
9350 S DIXIE HWY
MIAMI, FL 33156

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561431 - Private Mail Centers

Loan Approval Date

4/3/2001

Loan Approval Gross Amount

$49,000

Loan Approval from the SBA

Of the total $49,000 loan amount, the SBA guaranteed $41,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pakmail Centers Of America franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

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:

Pak Mail Centers of America, Inc.

Obtaining Funding - How to Decide How Much to Raise

Good Banks for Small Business in Miami, Florida

Florida SBA 7A Lenders