Limited-Service Restaurants Commercial Loans

Looking for commercial loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $118,200 limited-service restaurants loan was issued by a Florida bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Hancock Bank Of Florida, out of Tallahassee, Florida. The loan was granted and they received $118,200 to help grow their Tallahassee, Florida business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
TALLAHASSEE, FL 32301

SBA Loan Lender

HANCOCK BANK OF FLORIDA
111 S MONROE ST
TALLAHASSEE, FL 32301

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

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

2/27/2003

Loan Approval Gross Amount

$118,200

Loan Approval from the SBA

Of the total $118,200 loan amount, the SBA guaranteed $100,470.

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 25 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $118,200. How would you spend $118,200 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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