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April 27, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Winston Salem, Business Loans > Wachovia Bank Winston Salem Business Loans > Blimpie Of Atlanta Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Georgia Entrepreneur Secures Financing to Buy Blimpie FranchiseNeed money to buy a Blimpie franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Blimpie franchise may simply require a phone call to a local SBA banker. In 2002, Wachovia Bank issued an SBA franchise loan to an entrepreneur in Atlanta, Georgia. Because Blimpie was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis. SBA Loan Borrower BLIMPIE OF ATLANTA SBA Loan Lender WACHOVIA BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 3/22/2002 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $35,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $70,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Business Banks in Winston Salem, North Carolina
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