Florida Small Business Loan Issued to Full-Service Restaurants Company
FloridaBusiness loans are available to Florida business owners through the SBA. In this case, a Michigan bank provides the loan.
This company, based in Estero, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Fifth Third Bank. We've got the inside scoop on this Florida small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
Estero, FL 33928
SBA Loan Lender
FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
12/19/2006
Loan Approval Gross Amount
$559,400
Loan Approval from the SBA
Of the total $559,400 loan amount, the SBA guaranteed $419,550.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. 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 2 new jobs and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Fifth Third Bank and they will explain how you can get an SBA loan for your company.
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:
Microlending as a Small Business Funding Source
SBA 7A Lenders in Grand Rapids, Michigan
Michigan SBA 7A Banks