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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > New York City, Business Loans > Banco Popular North America New York City Business Loans > Gnc #6909 Loan | ||||
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Requirements for Financing a Franchise
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Borrow Money to Buy a General Nutrition Center FranchiseNeed money to purchase a General Nutrition Center franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Bellaire, Texas needed money to invest in a General Nutrition Center franchise back in 2004. Banco Popular North America issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower GNC #6909 SBA Loan Lender BANCO POPULAR NORTH AMERICA 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 3/15/2004 Loan Approval Gross Amount $192,000 Loan Approval from the SBA Of the total $192,000 loan amount, the SBA guaranteed $144,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a General Nutrition Center franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $192,000 loan. Remember, you control your own destiny. 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: General Nutrition Centers / GNC Live Well Best Banks in New York City, New York Getting an SBA Loan in New York
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