Miami, FL Entrepreneur Gets SBA Loan to Buy Smoothie King health Food Store Franchise

Borrowing money to buy a Smoothie King health Food Store franchise? Valley Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Smoothie King health Food Store franchise? If so, here's a 2003 SBA franchise loan that you should know about. Valley Bank was the lender and the entrepreneur was based in Miami, Florida.

SBA Loan Borrower

SMOTHIE KING
MIAMI, FL 33178

SBA Loan Lender

VALLEY BANK
350 E LAS OLAS BLVD, STE 800
FORT LAUDERDALE, FL 33301

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

2/13/2003

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 a new business. This loan was used to buy a Smoothie King health Food Store franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Smoothie King

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