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April 28, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New Brunswick, Business Loans > New Millennium Bank New Brunswick Business Loans > Blimpie Of Edison Loan | ||||
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New Millennium Bank SBA Franchise Loans
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Loan to Buy Blimpie Franchise Issued By New Millennium BankBorrowing money to buy a Blimpie franchise? New Millennium Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Edison, New Jersey needed money to invest in a Blimpie franchise back in 2000. New Millennium Bank issued an SBA franchise loan. Here are the details on this New Jersey small business loan. SBA Loan Borrower BLIMPIE OF EDISON SBA Loan Lender NEW MILLENNIUM BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. 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 6/14/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $60,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Role of Business Plan When Raising Money Where to Get an SBA Loan in New Brunswick, New Jersey
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