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April 25, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Homestead, Business Loans > Community Bank Of Florida Homestead Business Loans > Excavation Work Loan | ||||
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How to Get a Small Business Loan in Miami, Florida
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Community Bank Of Florida Gives Bank Loan to Excavation Work CompanyFloridaBank loans are available to Florida firms through the SBA. In this case, a Florida bank provides the loan. By giving the right information to Community Bank Of Florida, this Miami, Florida business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: EXCAVATION WORK SBA Loan Lender COMMUNITY BANK OF FLORIDA This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1794 - Excavation Work NAICS Code 235930 - Excavation Contractors Loan Approval Date 4/18/2000 Loan Approval Gross Amount $68,600 Loan Approval from the SBA Of the total $68,600 loan amount, the SBA guaranteed $54,880. 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 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community Bank Of Florida 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. Related Links: Best Banks for Small Business in Homestead, Florida
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