Beach Business Bank Provides SBA Loan to Buy Blimpie Franchise

Need money to purchase a Blimpie franchise? Beach Business Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Altamonte Springs, Florida and are interested in buying a Blimpie franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Beach Business Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BLIMPIE #421 AND BLIMPIE #444
ALTAMONTE SPRINGS, FL 32701

SBA Loan Lender

BEACH BUSINESS BANK
1230 ROSECRANS AVE, STE 100
MANHATTAN BEACH, CA 90266

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/26/2007

Loan Approval Gross Amount

$479,000

Loan Approval from the SBA

Of the total $479,000 loan amount, the SBA guaranteed $359,250.

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 8 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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