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April 20, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Miami, Business Loans > Republic Federal Bank Miami Business Loans > Beauty Shops Loan | ||||
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SBA Lenders for Entrepreneurs in Florida
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Firm Gets a Florida Small Business LoanFloridaSmall business loans are available to Florida small business owners through the SBA. In this case, a Florida bank provides the loan. This small business, based in Miami Beach, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Republic Federal Bank. We've got the inside scoop on this Florida small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender REPUBLIC FEDERAL BANK This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 10/31/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Republic Federal Bank and they will explain how you can get an SBA loan for your company. 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: Getting a Business Loan in Florida
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