Loan to Buy Friendly's Franchise Issued By The Bank Of Commerce

Need a loan to buy a Friendly's franchise? The Bank Of Commerce has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Sarasota, Florida needed money to invest in a Friendly's franchise back in 2002. The Bank Of Commerce issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

FRIENDLY'S RESTAURANT
SARASOTA, FL 34236

SBA Loan Lender

THE BANK OF COMMERCE
1858 RINGLING BLVD
SARASOTA, FL 34236

This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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

722110 - Full-Service Restaurants

Loan Approval Date

7/5/2002

Loan Approval Gross Amount

$343,000

Loan Approval from the SBA

Of the total $343,000 loan amount, the SBA guaranteed $257,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Friendly's franchise. At the time of the loan, the company had 100 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Friendly's Restaurants

Advice on Getting a Small Business Loan

Small Bank Loans in Sarasota, Florida

Getting a Business Loan in Florida