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May 4, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Friendly's Loan | ||||
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Raising Money in Virginia Beach, Virginia With SBA Loans
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Wells Fargo Bank Provides SBA Loan to Buy Friendly's FranchiseNeed money to buy a Friendly's franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Friendly's franchise? If so, here's a 2001 SBA franchise loan that you should know about. Wells Fargo Bank was the lender and the entrepreneur was based in Virginia Beach, Virginia. SBA Loan Borrower FRIENDLY'S SBA Loan Lender WELLS FARGO BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/11/2001 Loan Approval Gross Amount $1,011,400 Loan Approval from the SBA Of the total $1,011,400 loan amount, the SBA guaranteed $758,550. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Friendly's franchise. At the time of the loan, the company had 140 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. We can help you find the best banks for small businesses in Virginia Beach or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Find an SBA Lender in Minneapolis, Minnesota SBA Participating Banks in Minnesota
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