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May 2, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > West Valley City, Business Loans > Zions First National Bank West Valley City Business Loans > Ernst Investments, Inc. Dba Ga Loan | ||||
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Rexburg, Idaho Bank Loan
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Rexburg, ID Entrepreneur Gets SBA Loan to Buy Gandolfo's New York Delicatessen FranchiseNeed a loan to buy a Gandolfo's New York Delicatessen franchise? Zions First National Bank has a history of making these loans and they are guaranteed by the SBA. Gandolfo's New York Delicatessen franchise loans are available to Rexburg, Idaho entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Zions First National Bank, based in West Valley City, Utah, issued an SBA franchise loan for a Gandolfo's New York Delicatessen franchise in 2004. We've got all the details on this Idaho small business loan. SBA Loan Borrower ERNST INVESTMENTS, INC. DBA GA SBA Loan Lender ZIONS FIRST NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 11/24/2004 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Gandolfo's New York Delicatessen franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Gandolfo's New York Delicatessen Who Lends Money to Small Businesses in West Valley City, Utah
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