Sovereign Bank Provides SBA Loan to Buy Brigham's Franchise
Need money to purchase a Brigham's franchise? Sovereign Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a Brigham's franchise may simply require a phone call to a local SBA banker. In 2002, Sovereign Bank issued an SBA franchise loan to an entrepreneur in North Andover, Massachusetts. Because Brigham's was registered with the SBA's registry of franchises, this Massachusetts small business loan was issued on an expedited basis.
SBA Loan Borrower
BRIGHAM'S NORTH ANDOVER
NORTH ANDOVER, MA 01845
SBA Loan Lender
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610
The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
722110 - Full-Service Restaurants
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Brigham's franchise. At the time of the loan, the company
had 11 employees. The SBA loan documents indicated that the loan would help retain 11 existing jobs.
Start the Process for Getting an SBA Loan Today!
Remember, 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 businesses, the SBA has special programs for you. We've put a spotlight on this loan from Sovereign Bank 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.
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