How to Get a Loan for Full-Service Restaurants

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $368,000 was given to a Florida entrepreneur in 2005.

This small business knew how to go about getting a business bank loan. Based in Ocala, Florida, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Merchants & Southern Bank, based in Gainesville, Florida.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
OCALA, FL 34470

SBA Loan Lender

MERCHANTS & SOUTHERN BANK
2040 NW 67TH PL
GAINESVILLE, FL 32653

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/9/2005

Loan Approval Gross Amount

$368,000

Loan Approval from the SBA

Of the total $368,000 loan amount, the SBA guaranteed $276,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 7 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Getting a Small Business Loan

Who Lends Money to Small Businesses in Gainesville, Florida

Find an SBA Lender in Florida