Financing for Fine Arts Schools

With these commercial loans for fine arts schools, the SBA guarantees the lender that the loan will be repaid. This fine arts schools loan for $22,320 was given to a Florida entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Miami, Florida, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Community Bank Of Florida, based in Miami, Florida.

SBA Loan Borrower

COMPANY TYPE: FINE ARTS SCHOOLS
MIAMI, FL 33186

SBA Loan Lender

COMMUNITY BANK OF FLORIDA
19900 SW 177 AVE
MIAMI, FL 33187

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.

NAICS Code

611610 - Fine Arts Schools

Loan Approval Date

9/28/2004

Loan Approval Gross Amount

$22,320

Loan Approval from the SBA

Of the total $22,320 loan amount, the SBA guaranteed $18,972.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned 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 typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $22,320 loan. Remember, feel the fear, and do it anyway.

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

Small Business Banks in Miami, Florida

Find an SBA Lender in Florida