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March 29, 2024  
 
 
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Loan Census SBA Loan Info

Texas Entrepreneur Secures Financing to Buy Long John Silver's Franchise

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

An entrepreneur in Galveston, Texas needed money to invest in a Long John Silver's franchise back in 2003. Banco Popular North America issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

LONG JOHN SILVER'S
GALVESTON, TX 77551

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

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

9/17/2003

Loan Approval Gross Amount

$216,000

Loan Approval from the SBA

Of the total $216,000 loan amount, the SBA guaranteed $162,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Long John Silver's franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, 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.

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