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April 28, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Blimpie Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Borrow Money to Buy a Blimpie FranchiseNeed a loan to buy a Blimpie franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Blimpie franchise may simply require a phone call to a local SBA banker. In 2003, Independence Bank issued an SBA franchise loan to an entrepreneur in Winsted, Connecticut. Because Blimpie was registered with the SBA's registry of franchises, this Connecticut small business loan was issued on an expedited basis. SBA Loan Borrower BLIMPIE SBA Loan Lender INDEPENDENCE BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 3/3/2003 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $68,000. 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 10 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Where to Get an SBA Loan in East Greenwich, Rhode Island
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