Sarasota, FL Entrepreneur Gets SBA Loan to Buy R.J. Gators Franchise

Need money to invest in a R.J. Gators franchise? First Priority Bank 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 R.J. Gators franchise back in 2005. First Priority Bank issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

R.J. GATORS FLORIDA SEA GRILL
SARASOTA, FL 34232

SBA Loan Lender

FIRST PRIORITY BANK
4702 CORTEZ RD WEST
BRADENTON, FL 34210

This business loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA delivers a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/9/2005

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a R.J. Gators franchise. At the time of the loan, the company had 50 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you 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 to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First Priority 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.

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