Central Valley, NY Entrepreneur Gets SBA Loan to Buy South Philly Steaks & Fries Franchise

Need money to buy a South Philly Steaks & Fries franchise? Business Lenders, LLC has a history of making these loans and they are guaranteed by the SBA.

South Philly Steaks & Fries franchise loans are available to Central Valley, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Business Lenders, LLC, based in Hartford, Connecticut, issued an SBA franchise loan for a South Philly Steaks & Fries franchise in 2001. We've got all the details on this New York small business loan.

SBA Loan Borrower

SO PHILLY STEAK & FRIES
CENTRAL VALLEY, NY 10917

SBA Loan Lender

BUSINESS LENDERS, LLC
50 STATE HOUSE SQUARE 5TH FL
HARTFORD, CT 06103

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/25/2001

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a South Philly Steaks & Fries franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the borrowed money would help generate 8 new jobs.

Great, But How Can I Get an SBA Loan for My 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 $130,000 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:

Raising Venture Capital

Best Banks in Hartford, Connecticut

Connecticut SBA 7A Lenders