Loan Census Banking News and Information
February 21, 2024  
  Business Loan Information  

Where to Get an SBA 7A Loan to Purchase a Franchise


Loan Census SBA Loan Info

Longmont, CO Entrepreneur Gets SBA Loan to Buy Miracle Method On The Rio Grande Franchise

Borrowing money to buy a Miracle Method On The Rio Grande franchise? First Main Street Financial Lt has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Longmont, Colorado needed money to invest in a Miracle Method On The Rio Grande franchise back in 2002. First Main Street Financial Lt issued an SBA franchise loan. Here are the details on this Colorado small business loan.

SBA Loan Borrower


SBA Loan Lender

401 MAIN ST,

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.


811490 - Personal and Household Goods Repair and Maintenance

Loan Approval Date


Loan Approval Gross Amount


Loan Approval from the SBA

Of the total $41,600 loan amount, the SBA guaranteed $35,360.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Miracle Method On The Rio Grande franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $41,600 loan. Remember, fight for what you want, and it will be yours!

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 news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. 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:

Miracle Method Surface Restoration

The Friends and Family Network

SBA Participating Banks in Longmont, Colorado

SBA Lenders in Colorado