Gainesville, Florida Business Gets SBA-Guaranteed Funding from Merchants & Southern Bank

Merchants & Southern Bank has a track record as a leading provider of SBA loans. Find out how this Florida entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Merchants & Southern Bank, out of Gainesville, Florida. The loan was granted and they received $11,000 to help grow their Gainesville, Florida business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
GAINESVILLE, FL 32606

SBA Loan Lender

MERCHANTS & SOUTHERN BANK
3631 N MAIN ST
GAINESVILLE, FL 32609

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/10/2001

Loan Approval Gross Amount

$11,000

Loan Approval from the SBA

Of the total $11,000 loan amount, the SBA guaranteed $9,350.

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. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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