How to Get a Loan for Limited-Service Restaurants

Looking for business loans for limited-service restaurants? The SBA may be the answer. This $662,500 limited-service restaurants loan was issued by a Florida bank.

This small business knew how to go about getting a business bank loan. Based in Clearwater, Florida, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Community Bank Of Manatee, based in Bradenton, Florida.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CLEARWATER, FL 33760

SBA Loan Lender

COMMUNITY BANK OF MANATEE
6000 SR 70 EAST
BRADENTON, FL 34203

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/6/2003

Loan Approval Gross Amount

$662,500

Loan Approval from the SBA

Of the total $662,500 loan amount, the SBA guaranteed $496,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Bank Of Manatee had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community Bank Of Manatee made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

The Friends and Family Network

Best Banks in Bradenton, Florida

Where to Get an SBA Loan Florida