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December 20, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Palatka, Business Loans > First Fed. Bank - No. Florida Palatka Business Loans > Limited-Service Restaurants Loan | ||||
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Raising Money in Jacksonville, Florida With SBA Loans
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Limited-Service Restaurants Commercial LoansWith these commercial loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $178,000 was given to a Florida entrepreneur in 2003. This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Fed. Bank - No. Florida, out of Palatka, Florida. The loan was granted and they received $178,000 to help grow their Jacksonville, Florida business. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender FIRST FED. BANK - NO. FLORIDA This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 7/21/2003 Loan Approval Gross Amount $178,000 Loan Approval from the SBA Of the total $178,000 loan amount, the SBA guaranteed $133,500. 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 20 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. We can help you find the best banks for small businesses in Jacksonville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Banking Deregulation's Effects on Entrepreneurship Best Palatka, Florida Banks for Small Business
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