Community Bank Of Manatee Provides SBA Loan to Buy Jersey Mike's deli Restaurant Franchise

Need money to invest in a Jersey Mike's deli Restaurant franchise? Community Bank Of Manatee has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Jersey Mike's deli Restaurant franchise? If so, here's a 2003 SBA franchise loan that you should know about. Community Bank Of Manatee was the lender and the entrepreneur was based in Sarasota, Florida.

SBA Loan Borrower

JERSEY MIKE'S SUBS
SARASOTA, FL 34241

SBA Loan Lender

COMMUNITY BANK OF MANATEE
6000 SR 70 EAST
BRADENTON, FL 34203

This was a Low Documentation SBA loan. The SBA launched this program to limit 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

8/21/2003

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 a new business. This loan was used to buy a Jersey Mike's deli Restaurant franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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

Jersey Mike's Submarines & Salads

Attracting Investors

Good Banks for Small Business in Bradenton, Florida

Florida SBA 7A Banks