Miami, Florida Bank Gives SBA Loan to Barber Shops Company

Get to know Miami, Florida banks that specialize in business loans and know how to work with entrepreneurs. Ocean Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Tavernier, Florida starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Ocean Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BARBER SHOPS
TAVERNIER, FL 33070

SBA Loan Lender

OCEAN BANK
780 NW 42ND AVE
MIAMI, FL 33126

This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7241 - Barber Shops

NAICS Code

812111 - Barber Shops

Loan Approval Date

2/16/2001

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels 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.

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:

The Friends and Family Network

SBA 7A Banks in Miami, Florida

Where to Get an SBA Loan Florida