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July 9, 2020  
 
 
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Raising Money in San Jose, California With SBA Loans

 

 
Loan Census SBA Loan Info

Borrow Money to Buy a Wetzel's Pretzel Franchise

Need a loan to invest in a Wetzel's Pretzel franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Wetzel's Pretzel franchise? If so, here's a 2006 SBA franchise loan that you should know about. Banco Popular North America was the lender and the entrepreneur was based in San Jose, California.

SBA Loan Borrower

WETZEL'S PRETZELS
SAN JOSE, CA 95122

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

10/4/2006

Loan Approval Gross Amount

$288,100

Loan Approval from the SBA

Of the total $288,100 loan amount, the SBA guaranteed $216,075.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wetzel's Pretzel franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 7 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

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

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.

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