Business Loan from Charlotte State Bank Given to Full-Service Restaurants Company

An SBA loan from Charlotte State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sarasota, Florida business owner got a $150,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sarasota, Florida was able to borrow $150,000 from Charlotte State Bank. The SBA made the loan possible by guaranteeing $127,500 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SARASOTA, FL 34231

SBA Loan Lender

CHARLOTTE STATE BANK
1100 TAMIAMI TRL
PORT CHARLOTTE, FL 33953

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/6/2001

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. This loan was not for a franchise. At the time of the loan, the company had 9 employees. This SBA loan request indicated that the loan would help retain 9 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

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