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April 19, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Miami, Business Loans > Ocean Bank Miami Business Loans > Electric Services Loan | ||||
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Florida Bank SBA Loans
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Miami, Florida Bank Gives SBA Loan to Electric Services CompanyWant to talk with a Miami, Florida bank about a business loan? Here's one Florida business loan, issued by a Miami bank, that was approved by the SBA. Applying for an SBA loan with Ocean Bank worked out well for our friends at one local business in Miami, Florida. The business was able to get an SBA loan for $83,060. Sweet! SBA Loan Borrower COMPANY TYPE: ELECTRIC SERVICES SBA Loan Lender OCEAN BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4911 - Electric Services NAICS Code 221111 - Hydroelectric Power Generation Loan Approval Date 10/3/2003 Loan Approval Gross Amount $83,060 Loan Approval from the SBA Of the total $83,060 loan amount, the SBA guaranteed $70,601. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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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