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December 22, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Eating Places Loan | ||||
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Orlando, Florida Bank for SBA Loans
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SBA Loans for Limited-Service RestaurantsWith these SBA loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $150,000 was given to a Florida entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Orlando, Florida was able to borrow $150,000 from Independence Bank. The SBA made the loan possible by guaranteeing $127,500 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender INDEPENDENCE BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. 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 10/10/2003 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 an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Where to Get an SBA Loan in East Greenwich, Rhode Island
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