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April 19, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Miami, Business Loans > City National Bank Of Florida Miami Business Loans > Drugs And Druggists' Sundries Merchant Wholesalers Loan | ||||
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SBA Lenders in Florida
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Miami, Florida Business Gets SBA-Guaranteed Funding from City National Bank Of FloridaCity National Bank Of Florida and the SBA work together to get business loans for growing small businesses. Here's an example of how a Florida entrepreneur was able to get a loan to take a small business to the next level. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with City National Bank Of Florida, out of Miami, Florida. The loan was granted and they received $800,000 to help grow their Miami, Florida business. SBA Loan Borrower COMPANY TYPE: DRUGS AND DRUGGISTS' SUNDRIES MERCHANT WHOLESALERS SBA Loan Lender CITY NATIONAL BANK OF FLORIDA Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424210 - Drugs and Druggists' Sundries Merchant Wholesalers Loan Approval Date 7/13/2006 Loan Approval Gross Amount $800,000 Loan Approval from the SBA Of the total $800,000 loan amount, the SBA guaranteed $720,000. 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 53 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 50 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. City National Bank Of Florida had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, City National Bank Of Florida made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA 7A Banks for Miami, Florida Loans
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