New York Entrepreneur Secures Financing to Buy Cheeburger Cheburger Franchise

Need money to purchase a Cheeburger Cheburger franchise? Manufacturers & Traders Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cheeburger Cheburger franchise shouldn't be overly burdensome. In 2005, Manufacturers & Traders Trust issued an SBA franchise loan to an entrepreneur in North Tonawanda, New York. Because Cheeburger Cheburger was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.

SBA Loan Borrower

NICOLETTE'S RESTAURANTS LLC
NORTH TONAWANDA, NY 14120

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

This lender issued this SBA small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/28/2005

Loan Approval Gross Amount

$325,300

Loan Approval from the SBA

Of the total $325,300 loan amount, the SBA guaranteed $243,975.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cheeburger Cheburger franchise. At the time of the loan, the company had 50 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Manufacturers & Traders Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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