SBA Loan from Oceanside Bank Helps Full-Service Restaurants Company

An SBA loan from Oceanside Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Ponte Vedra, Florida business owner got a $145,000 loan.

This business knew how to go about getting a business bank loan. Based in Ponte Vedra, Florida, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Oceanside Bank, based in Jacksonville Beach, Florida.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PONTE VEDRA, FL 32082

SBA Loan Lender

OCEANSIDE BANK
1315 S THIRD ST
JACKSONVILLE BEACH, FL 32250

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/16/2001

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the small 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?

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Oceanside Bank 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.

Related Links:

Business Credit Evaluation

Good Banks for Small Business in Jacksonville Beach, Florida

Florida SBA 7A Lenders