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May 1, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Fairmont, Business Loans > Branch Bank & Trust Fairmont Business Loans > North Marion Iga Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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West Virginia Entrepreneur Secures Financing to Buy Iga Food Stores FranchiseBorrowing money to invest in an Iga Food Stores franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA. Getting money to buy an Iga Food Stores franchise shouldn't be overly burdensome. In 2000, Branch Bank & Trust issued an SBA franchise loan to an entrepreneur in Mannington, West Virginia. Because Iga Food Stores was registered with the SBA's registry of franchises, this West Virginia small business loan was issued on an expedited basis. SBA Loan Borrower NORTH MARION IGA SBA Loan Lender BRANCH BANK & TRUST This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores Loan Approval Date 9/22/2000 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an Iga Food Stores franchise. At the time of the loan, the company had 17 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. We can help you find the best banks for small businesses in Mannington or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 Banks in Fairmont, West Virginia
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