Raising Money for Full-Service Restaurants

Looking for business loans for full-service restaurants? Try the SBA. This $80,000 full-service restaurants loan was issued by a Florida bank.

Fresh Zone, Inc. received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Ocean Bank, out of Miami, Florida. The loan was granted and they received $80,000 to help grow their Fort Lauderdale, Florida business.

SBA Loan Borrower

FRESH ZONE, INC.
1035 NORTH FEDERAL HIGHWAY
FORT LAUDERDALE, FL 33305

SBA Loan Lender

OCEAN BANK
780 NW 42ND AVE
MIAMI, FL 33126

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

6/4/2001

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower, Fresh Zone, Inc., borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 Fresh Zone, Inc. did when it applied for and received this $80,000 loan. Remember, anyone can do it... so why not you?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Family and Friend Investors - Your First Financiers

Banks in Miami, Florida

Getting an SBA Loan in Florida

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