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April 24, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Springfield, Business Loans > Liberty Bank Springfield Business Loans > D & R Stuff, LLC Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Liberty Bank Provides SBA Loan to Buy Gambino's Pizza FranchiseBorrowing money to purchase a Gambino's Pizza franchise? Liberty Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Gambino's Pizza franchise may simply require a phone call to a local SBA banker. In 2003, Liberty Bank issued an SBA franchise loan to an entrepreneur in Stockton, Missouri. Because Gambino's Pizza was registered with the SBA's registry of franchises, this Missouri small business loan was issued on an expedited basis. SBA Loan Borrower D & R STUFF, LLC SBA Loan Lender LIBERTY BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 3/31/2003 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Gambino's Pizza franchise. At the time of the loan, the company had 9 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $30,000 loan. Remember, if it to be, it is up to me! 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: The Friends and Family Network Best Banks in Springfield, Missouri
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