Florida Bank Loan Issued to Limited-Service Restaurants Company

Would a Florida bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Florida entrepreneurs.

You can learn something about getting a small business loan in Tampa, Florida by studying this loan to a local company, made back in 2007. Banks like Stearns Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
TAMPA, FL 33612

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/30/2007

Loan Approval Gross Amount

$342,400

Loan Approval from the SBA

Of the total $342,400 loan amount, the SBA guaranteed $256,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Stearns Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Incubators

SBA Approved Banks in Saint Cloud, Minnesota

SBA Participating Banks in Minnesota