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April 20, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Big River Foods Inc Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Wells Fargo Bank Provides SBA Loan to Buy Godfather's Pizza FranchiseNeed money to buy a Godfather's Pizza franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Godfather's Pizza franchise loans are available to Rock Island, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wells Fargo Bank, based in San Jose, California, issued an SBA franchise loan for a Godfather's Pizza franchise in 2006. We've got all the details on this Illinois small business loan. SBA Loan Borrower BIG RIVER FOODS INC SBA Loan Lender WELLS FARGO BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 5/24/2006 Loan Approval Gross Amount $36,000 Loan Approval from the SBA Of the total $36,000 loan amount, the SBA guaranteed $30,600. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Godfather's Pizza franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 13 new jobs and retain 15 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: SBA Banks in San Jose, California
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