SBA Loans for Limited-Service Restaurants

With these SBA loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $140,000 was given to a Florida entrepreneur in 2003.

Getting a small business loan in High Springs, Florida was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Millennium Bank, operating out of Gainesville, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
HIGH SPRINGS, FL 32643

SBA Loan Lender

MILLENNIUM BANK
4340 NEWBERRY RD
GAINESVILLE, FL 32607

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

10/20/2003

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 14 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in High Springs FL, you ought to talk with a local High Springs SBA lender or talk with an out-of-area SBA lender that has previously loaned money to High Springs businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $140,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Understanding Dilution

Banks in Gainesville, Florida

Florida SBA 7A Lenders