New York, NY Entrepreneur Gets SBA Loan to Buy Sabarro's Franchise

Borrowing money to buy a Sabarro's franchise? Citibank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sabarro's franchise requires some effort but others before you have been successful. In 2000, Citibank issued an SBA franchise loan to an entrepreneur in New York, New York. Because Sabarro's was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.

SBA Loan Borrower

MAMA MIA WHAT A PIZZA
NEW YORK, NY 10003

SBA Loan Lender

CITIBANK
120 BROADWAY
NEW YORK CITY, NY 10271

This lender provides SBA loan for small businesses 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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/11/2000

Loan Approval Gross Amount

$340,000

Loan Approval from the SBA

Of the total $340,000 loan amount, the SBA guaranteed $255,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sabarro's franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 25 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Advice on Getting a Small Business Loan

Best New York City, New York Banks for Small Business

Where to Get an SBA Loan New York