Florida Small Business Loan Issued to Eating Places Company

Would a Florida small business loan help your small business to grow and prosper? If so, you may want to talk with this Florida bank, which offers SBA loans to Florida entrepreneurs.

This business, based in Palm Bay, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Riverside National Bank - Florida. We've got the inside scoop on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PALM BAY, FL 32940

SBA Loan Lender

RIVERSIDE NATIONAL BANK - FLORIDA
2211 OKEECHOBEE RD
FORT PIERCE, FL 34950

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

5/17/2000

Loan Approval Gross Amount

$38,200

Loan Approval from the SBA

Of the total $38,200 loan amount, the SBA guaranteed $30,560.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Riverside National Bank - Florida had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Riverside National Bank - Florida made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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