Borrow Money to Buy a Jimmy John's Franchise
Need money to buy a Jimmy John's franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a Jimmy John's franchise shouldn't be too tough. In 2005, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Cottage Grove, Minnesota. Because Jimmy John's was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.
SBA Loan Borrower
JIMMY JOHN'S GOURMET SANDWICHE
COTTAGE GROVE, MN 55016
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
8/24/2005
Loan Approval Gross Amount
$222,000
Loan Approval from the SBA
Of the total $222,000 loan amount, the SBA guaranteed $166,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Jimmy John's franchise. At the time of the loan, the company
had 2 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 2 existing jobs.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:
Jimmy John's Gourmet Sandwiches
Understanding Dilution
SBA Participating Banks in San Jose, California
Where to Get an SBA Loan California