Maryland Entrepreneur Secures Financing to Buy Burger King Franchise

Borrowing money to buy a Burger King franchise? Manufacturers & Traders Trust has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Burger King franchise? If so, here's a 2001 SBA franchise loan that you should know about. Manufacturers & Traders Trust was the lender and the entrepreneur was based in Baltimore Highlands, Maryland.

SBA Loan Borrower

BRIDGETTE FOODS LLC
BALTIMORE HIGHLANDS, MD 21212

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
25 S CHARLES ST
BALTIMORE, MD 21201

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/6/2001

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Burger King franchise. At the time of the loan, the company had 191 employees. The SBA loan application for the borrower indicated that the loan would help generate 45 new jobs and retain 236 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Burger King Corporation

Investor Turnoffs

SBA 7A Banks for Baltimore, Maryland Loans

Getting an SBA Loan in Maryland