Sovereign Bank Provides SBA Loan to Buy Arby's Franchise

Need money to invest in an Arby's franchise? Sovereign Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Allentown, Pennsylvania and are interested in buying an Arby's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Sovereign Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ALLENTOWN ARBY'S
ALLENTOWN, PA 18019

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/12/2002

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Arby's franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 30 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Arby's, LLC

Business Cash Advances

SBA 7A Banks in Wyomissing, Pennsylvania

Getting a Business Loan in Pennsylvania