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July 9, 2020  
 
 
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How Can I Buy a Franchise in San Jose, California?

 

 
Loan Census SBA Loan Info

Borrow Money to Buy a Wetzel's Pretzel Franchise

Borrowing money to buy a Wetzel's Pretzel franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Wetzel's Pretzel franchise loans are available to San Jose, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Banco Popular North America, based in New York City, New York, issued an SBA franchise loan for a Wetzel's Pretzel franchise in 2006. We've got all the details on this California small business loan.

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

10/4/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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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