Jacksonville, FL Entrepreneur Gets SBA Loan to Buy Larry's Giant Subs Franchise

Need money to buy a Larry's Giant Subs franchise? Centerbank - Jacksonville has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Jacksonville, Florida needed money to invest in a Larry's Giant Subs franchise back in 2003. Centerbank - Jacksonville issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

LARRY'S GIANT SUBS
JACKSONVILLE, FL 32207

SBA Loan Lender

CENTERBANK - JACKSONVILLE
1325 HENDRICKS AVE
JACKSONVILLE, FL 32207

This was a Low Documentation SBA loan. The SBA created this program to reduce 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. Right now, the maximum small business loan for this SBA program is $100,000.

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

1/8/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Larry's Giant Subs franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Centerbank - Jacksonville and they will explain how you can get an SBA loan for your company.

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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