Tax Preparation Services Small Business Loans
With these small business loans for tax preparation services, the SBA guarantees the lender that the loan will be repaid. This tax preparation services loan for $150,000 was given to a Florida entrepreneur in 2002.
This company knew how to go about getting a business bank loan. Based in Miramar, Florida, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Regions Bank, based in Miami, Florida.
SBA Loan Borrower
COMPANY TYPE: TAX RETURN PREPARATION SERVICES
MIRAMAR, FL 33027
SBA Loan Lender
6193 SW 72TH ST
MIAMI, FL 33143
This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.
SBA Loan Program Type
This loan was issued as a general business loan.
7291 - Tax Return Preparation Services
541213 - Tax Preparation Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
More Information on This SBA Loan
The borrower borrowed this money for a new 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. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans provide money to small business owners for working capital for other expenses.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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.
Realistic Debt Financing Options
Small Bank Loans in Miami, Florida
Florida SBA 7A Banks