Loan to Buy Long John Silver's Franchise Issued By Wells Fargo Bank

Borrowing money to buy a Long John Silver's franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Long John Silver's franchise requires some effort but others before you have been successful. In 2003, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Belen, New Mexico. Because Long John Silver's was registered with the SBA's registry of franchises, this New Mexico small business loan was issued on an expedited basis.

SBA Loan Borrower

PALO VERDE LTD LLC
BELEN, NM 87002

SBA Loan Lender

WELLS FARGO BANK
100 W WASHINGTON ST
PHOENIX, AZ 85003

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

1/16/2003

Loan Approval Gross Amount

$89,600

Loan Approval from the SBA

Of the total $89,600 loan amount, the SBA guaranteed $76,160.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Long John Silver's franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Belen 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:

Long John Silver's Restaurants, Inc.

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