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November 21, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Blimpies Of Queens Loan | ||||
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Astoria, New York Bank for SBA Loans
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Borrow Money to Buy a Blimpie FranchiseBorrowing money to invest in a Blimpie franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Astoria, New York needed money to invest in a Blimpie franchise back in 2003. Commerce Bank issued an SBA franchise loan. Here are the details on this New York small business loan. SBA Loan Borrower BLIMPIES OF QUEENS SBA Loan Lender COMMERCE 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 722110 - Full-Service Restaurants Loan Approval Date 4/4/2003 Loan Approval Gross Amount $1,700,000 Loan Approval from the SBA Of the total $1,700,000 loan amount, the SBA guaranteed $999,998. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Commerce Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Dealing With Venture Capitalists Small Bank Loans in Philadelphia, Pennsylvania
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