Drinking Places Small Business Loans

With these small business loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $250,000 was given to a Florida entrepreneur in 2006.

Getting a small business loan in Delray Beach, Florida was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from 1st United Bank, operating out of Boca Raton, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
DELRAY BEACH, FL 33483

SBA Loan Lender

1ST UNITED BANK
ONE NORTH FEDERAL HWY
BOCA RATON, FL 33432

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722410 - Drinking Places

Loan Approval Date

9/7/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 26 new jobs and retain 2 existing jobs.

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

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st United Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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SBA Approved Banks in Boca Raton, Florida

Florida SBA Banks