How to Get a Loan for Limited-Service Restaurants
Looking for business loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $150,000 limited-service restaurants loan was issued by a Florida bank.
This small business knew how to go about getting a business bank loan. Based in Jacksonville, Florida, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was First Coast Community Bank, based in Fernandina Beach, Florida.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
Jacksonville, FL 32223
SBA Loan Lender
FIRST COAST COMMUNITY BANK
1750 S 14TH ST
FERNANDINA BEACH, FL 32034
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
8/13/2007
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
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 7 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 7 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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:
Financing Your Business
Best Banks for Small Business in Fernandina Beach, Florida
Getting an SBA Loan in Florida