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May 5, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > New York City, Business Loans > Banco Popular North America New York City Business Loans > Edible Arrangements Loan | ||||
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Business Loans for Chicago Business Owners
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Illinois Entrepreneur Secures Financing to Buy Edible Arrangements FranchiseBorrowing money to purchase an Edible Arrangements franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Chicago, Illinois needed money to invest in an Edible Arrangements franchise back in 2006. Banco Popular North America issued an SBA franchise loan. Here are the details on this Illinois small business loan. SBA Loan Borrower EDIBLE ARRANGEMENTS SBA Loan Lender BANCO POPULAR NORTH AMERICA 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 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 9/12/2006 Loan Approval Gross Amount $162,700 Loan Approval from the SBA Of the total $162,700 loan amount, the SBA guaranteed $122,025. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an Edible Arrangements franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. 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 to grow a business, an SBA loan can be a great way to raise money SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Banco Popular North America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA 7A Lenders in New York City, New York
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