Destin, Florida Entrepreneur Gets an SBA Loan

Business loans in Florida are are few and far betweeen these days. We take a look at one Florida business loan, provided by a Texas bank, that was approved by the SBA.

Getting a small business loan in Destin, Florida was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank-Texas. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
DESTIN, FL 32541

SBA Loan Lender

COMERICA BANK-TEXAS
1508 W MOCKINGBIRD LN
DALLAS, TX 75235

When it made this small business loan, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program aims to ensure speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/2/2002

Loan Approval Gross Amount

$870,000

Loan Approval from the SBA

Of the total $870,000 loan amount, the SBA guaranteed $652,500.

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 12 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

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

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

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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