Coconut Grove, Florida Bank Lends Money to Household Appliance Stores Company in Coral Gables, Florida
Find Coconut Grove, Florida banks that specialize in SBA loans and know how to work with entrepreneurs. Sun American Bank is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in Coral Gables, Florida starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Sun American Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
CORAL GABLES, FL 33146
SBA Loan Lender
SUN AMERICAN BANK
2770 SW 27TH AVE
COCONUT GROVE, FL 33133
This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
5722 - Household Appliance Stores
443111 - Household Appliance Stores
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $310,000 loan amount, the SBA guaranteed $232,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 4 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sun American Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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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