Innovative Bank Gives SBA Loan to Full-Service Restaurants Company

SBA loans in Florida are tough to come by these days. We take a look at one Florida SBA loan, provided by a California bank, that was approved by the SBA.

Getting a small business loan in Spring Hill, Florida was a top priority for this particular business back in 2008 and, based on their loan application, they were successful in getting an SBA loan from Innovative Bank. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SPRING HILL, FL 34609

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/17/2008

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

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 23 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Spring Hill FL, you ought to talk with a local Spring Hill SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Spring Hill businesses.

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