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November 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Longwood, Business Loans > Orlando National Bank Longwood Business Loans > Firehouse Subs Of Jamestown Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Mount Dora, FL Entrepreneur Gets SBA Loan to Buy Firehouse Subs FranchiseNeed a loan to purchase a Firehouse Subs franchise? Orlando National Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Firehouse Subs franchise may simply require a phone call to a local SBA banker. In 2002, Orlando National Bank issued an SBA franchise loan to an entrepreneur in Mount Dora, Florida. Because Firehouse Subs was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis. SBA Loan Borrower FIREHOUSE SUBS OF JAMESTOWN SBA Loan Lender ORLANDO NATIONAL BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/16/2002 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 Firehouse Subs franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the funding would help generate 12 new jobs. Next Steps for Getting an SBA Loan If you are wondering how to raise money for a business in Mount Dora FL, you ought to talk with a local Mount Dora SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mount Dora businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Participating Banks in Longwood, Florida
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