Florida Entrepreneur Secures Financing to Buy Manhattan Bagel Co. Franchise

Need a loan to buy a Manhattan Bagel Co. franchise? First Comm. Bank - Florida has a history of making these loans and they are guaranteed by the SBA.

Manhattan Bagel Co. franchise loans are available to Altamonte Springs, Florida entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Comm. Bank - Florida, based in Orlando, Florida, issued an SBA franchise loan for a Manhattan Bagel Co. franchise in 2003. We've got all the details on this Florida small business loan.

SBA Loan Borrower

MANHATTAN BAGEL
ALTAMONTE SPRINGS, FL 32714

SBA Loan Lender

FIRST COMM. BANK - FLORIDA
945 S ORANGE AVE
ORLANDO, FL 32806

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/23/2003

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $122,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Manhattan Bagel Co. franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Comm. Bank - Florida and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Manhattan Bagel Company, Inc.

Famous Venture Capitalists

SBA 7A Lenders in Orlando, Florida

Florida SBA 7A Lenders