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November 14, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Miami, Business Loans > Citibank Miami Business Loans > Real Estate Credit Loan | ||||
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Raising Money in Miami, Florida With SBA Loans
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Miami, Florida Entrepreneur Gets a Bank LoanFloridaSBA loans are available to Florida entrepreneurs through the SBA. In this case, a Florida bank provides the loan. Getting a small business loan in Miami, Florida was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Citibank. Here are the details on this Florida small business loan. SBA Loan Borrower COMPANY TYPE: REAL ESTATE CREDIT SBA Loan Lender CITIBANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 522292 - Real Estate Credit Loan Approval Date 2/14/2005 Loan Approval Gross Amount $97,000 Loan Approval from the SBA Of the total $97,000 loan amount, the SBA guaranteed $48,500. 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 8 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Small Bank Loans in Miami, Florida
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