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May 3, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > Tropical Smoothie Cafe Loan | ||||
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I Need Commercial Loans to Buy a Franchise in Naples, Florida
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Borrow Money to Buy a Tropical Smoothie FranchiseBorrowing money to buy a Tropical Smoothie franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Tropical Smoothie franchise? If so, here's a 2003 SBA franchise loan that you should know about. Fifth Third Bank was the lender and the entrepreneur was based in Naples, Florida. SBA Loan Borrower TROPICAL SMOOTHIE CAFE SBA Loan Lender FIFTH THIRD BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . 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. 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. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 11/28/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Tropical Smoothie franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Small Bank Loans in Cincinnati, Ohio
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