Florida Entrepreneur Secures Financing to Buy Loop Restaurantthe Franchise

Need a loan to invest in a Loop Restaurantthe franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

If you live near Orange Park, Florida and are interested in buying a Loop Restaurantthe franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Bank Of America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

LOOP PIZZA GRILL
ORANGE PARK, FL 32003

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This lender issued this SBA small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

8/10/2001

Loan Approval Gross Amount

$402,200

Loan Approval from the SBA

Of the total $402,200 loan amount, the SBA guaranteed $301,650.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Loop Restaurantthe franchise. At the time of the loan, the company had 30 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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