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April 28, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Plano, Business Loans > Beal Bank, D/b/a Beal Bank Plano Business Loans > Eating Places Loan | ||||
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Beal Bank, D/b/a Beal Bank Davie
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SBA Loan from Beal Bank, D/b/a Beal Bank Helps Eating Places CompanyBeal Bank, D/b/a Beal Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Florida entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Davie, Florida, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Beal Bank, D/b/a Beal Bank, based in Plano, Texas. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BEAL BANK, D/B/A BEAL BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/7/2000 Loan Approval Gross Amount $112,700 Loan Approval from the SBA Of the total $112,700 loan amount, the SBA guaranteed $84,525. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $112,700 loan. Remember, feel the fear, and do it anyway. 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: Obtaining Funding - How to Decide How Much to Raise Small Bank Loans in Plano, Texas
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