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November 14, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > New Orleans, Business Loans > Whitney National Bank New Orleans Business Loans > Smoothie King Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Borrow Money to Buy a Smoothie King health Food Store FranchiseNeed a loan to buy a Smoothie King health Food Store franchise? Whitney National Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Smoothie King health Food Store franchise is doable. In 2003, Whitney National Bank issued an SBA franchise loan to an entrepreneur in Baton Rouge, Louisiana. Because Smoothie King health Food Store was registered with the SBA's registry of franchises, this Louisiana small business loan was issued on an expedited basis. SBA Loan Borrower SMOOTHIE KING SBA Loan Lender WHITNEY NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 446191 - Food Supplement Stores Loan Approval Date 12/17/2003 Loan Approval Gross Amount $178,500 Loan Approval from the SBA Of the total $178,500 loan amount, the SBA guaranteed $133,875. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Smoothie King health Food Store franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 Whitney National 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: Microlending as a Small Business Funding Source Banks in New Orleans, Louisiana
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