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May 1, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Blue Bell, Business Loans > Bank Of America Blue Bell Business Loans > Saladworks Loan | ||||
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Langhorne, Pennsylvania Bank for SBA Loans
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Borrow Money to Buy a Salad Works FranchiseNeed a loan to buy a Salad Works franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Langhorne, Pennsylvania needed money to invest in a Salad Works franchise back in 2000. Bank Of America issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower SALADWORKS SBA Loan Lender BANK OF AMERICA This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 8/11/2000 Loan Approval Gross Amount $235,000 Loan Approval from the SBA Of the total $235,000 loan amount, the SBA guaranteed $176,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Salad Works franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA 7A Banks for Blue Bell, Pennsylvania Loans Getting an SBA Loan in Pennsylvania
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