Sterling Bank Provides SBA Loan to Buy Blimpie Franchise

Borrowing money to invest in a Blimpie franchise? Sterling Bank has a history of making these loans and they are guaranteed by the SBA.

Blimpie franchise loans are available to Spring, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Sterling Bank, based in Houston, Texas, issued an SBA franchise loan for a Blimpie franchise in 2000. We've got all the details on this Texas small business loan.

SBA Loan Borrower

BLIMPIE SUBS & SALADS
SPRING, TX 77379

SBA Loan Lender

STERLING BANK
2550 N LOOP WEST
HOUSTON, TX 77092

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/1/2000

Loan Approval Gross Amount

$346,600

Loan Approval from the SBA

Of the total $346,600 loan amount, the SBA guaranteed $259,950.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the borrowed money would help generate 5 new jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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:

Blimpie Subs & Salads

The Art of Bootstrapping

Find an SBA Lender in Houston, Texas

Texas SBA 7A Lenders