First State Bank SBA Loan to Eating Places Company

Looking to get a Florida business loan? Here's one Florida business loan that was approved by the SBA.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with First State Bank, out of Sarasota, Florida. The loan was granted and they received $87,000 to help grow their Anna Maria, Florida business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ANNA MARIA, FL 34216

SBA Loan Lender

FIRST STATE BANK
22 S LINKS AVE
SARASOTA, FL 34246

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

5812 - Eating Places

Loan Approval Date

8/28/2000

Loan Approval Gross Amount

$87,000

Loan Approval from the SBA

Of the total $87,000 loan amount, the SBA guaranteed $69,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $87,000 loan. Remember, fight for what you want, and it will be yours!

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.

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