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May 10, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Route 80 Amoco - Blimpies Loan | ||||
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Requirements for Borrowing Money to Buy a Franchise
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New Haven, CT Entrepreneur Gets SBA Loan to Buy Blimpie FranchiseNeed money to invest in a Blimpie franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Blimpie franchise requires some effort but others before you have been successful. In 2001, Bank Of America issued an SBA franchise loan to an entrepreneur in New Haven, Connecticut. Because Blimpie was registered with the SBA's registry of franchises, this Connecticut small business loan was issued on an expedited basis. SBA Loan Borrower ROUTE 80 AMOCO - BLIMPIES SBA Loan Lender BANK OF AMERICA This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 8/16/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 6 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. We've showcased information on this loan to let you know that businesses like yours 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: Banks in Providence, Rhode Island
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