Colonie, NY Entrepreneur Gets SBA Loan to Buy Fuddrucker's Franchise

Need money to purchase a Fuddrucker's franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Fuddrucker's franchise loans are available to Colonie, New York 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 Fuddrucker's franchise in 2007. We've got all the details on this New York small business loan.

SBA Loan Borrower

FUDDRUCKERS
COLONIE, NY 11205

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

722211 - Limited-Service Restaurants

Loan Approval Date

1/29/2007

Loan Approval Gross Amount

$1,217,700

Loan Approval from the SBA

Of the total $1,217,700 loan amount, the SBA guaranteed $913,275.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fuddrucker's franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 29 new jobs and retain 29 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

Related Links:

Fuddruckers, Inc.

How to Raise Money

Small Business Banks in New York City, New York

SBA Lenders in New York