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May 2, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Knoxville, Business Loans > Community So. Bank D.B.A Commun Knoxville Business Loans > Smoothie King (deanne Kendall Loan | ||||
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Raising Money in Miami, Florida With SBA Loans
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Community So. Bank D.B.A Commun Provides SBA Loan to Buy Smoothie King health Food Store FranchiseBorrowing money to purchase a Smoothie King health Food Store franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA. Smoothie King health Food Store franchise loans are available to Miami, Florida entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Community So. Bank D.B.A Commun, based in Knoxville, Tennessee, issued an SBA franchise loan for a Smoothie King health Food Store franchise in 2004. We've got all the details on this Florida small business loan. SBA Loan Borrower SMOOTHIE KING (DEANNE KENDALL SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 7/13/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Smoothie King health Food Store franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community So. Bank D.B.A Commun had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community So. Bank D.B.A Commun made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Determining Proper Capital Structure for a Business Where to Get an SBA Loan in Knoxville, Tennessee Browse All Business Loan Sources for Tennessee
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