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DM International
2829 Meadow Hill Dr N
Clearwater, FL 33761
Phone: 727.797.3188
Fax: 727.797.4227
Email:
info@workoutloans.com |
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| $3.5
Million Refinancing Loan for a Kansas College Building. |
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| $2.6 Million Refinancing
Loan for a New York Strip Mall. |
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| $2.6 Million Purchase
Loan for a California Brew Pub. |
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| $1.5
Million Purchase Loan for an Arkansas Hotel. |
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| $600 Thousand Purchase
Loan for a Florida Restaurant. |
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| $7.8
Million Texas Land Development Loan. |
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Congress created the U.S. Small Business Administration
(SBA) in 1953 to help America's entrepreneurs form successful
small enterprises. Today, SBA offices in every state ,
the District of Columbia, the Virgin Islands and Puerto
Rico offer financing, training and advocacy for small
firms. The Agency also works with thousands of lending,
educational and training institutions nationwide.
The SBA enables its lending partners to provide financing
to small businesses when funding is otherwise unavailable
on reasonable terms by guaranteeing major portions of
loans made to small businesses.
The Agency does not currently have funding for direct
loans nor does it provide grants or low interest rate
loans for business start-up or expansion.
The eligibility requirements and credit criteria of the
program are very broad in order to accommodate a wide
range of financing needs.
When a small business applies to a lending partner for
a loan, the lender reviews the application and decides
if it merits a loan on its own or if it requires additional
support in the form of an SBA guaranty. SBA backing on
the loan is then requested by the lender. In guaranteeing
the loan, the SBA assures the lender that, in the event
the borrower does not repay the loan, the government will
reimburse the lending partner for a portion of its loss.
By providing this guaranty, the SBA is able to help tens
of thousands of small businesses every year get financing
they would not otherwise obtain.
To qualify for an SBA guaranty, a small business must
meet the SBA's criteria, and the lender must certify that
it could not provide funding on reasonable terms without
an SBA guaranty.
The SBA can guarantee as much as 85 percent on loans of
up to $150,000 and 75 percent on loans of more than $150,000.
In most cases, the maximum guaranty is $1 million. There
are higher loan limits for International Trade, defense-dependent
small firms affected by defense reductions, and Certified
Development Company loans.
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