Borrow Money to Buy a Salsarita's Franchise

Need money to purchase a Salsarita's franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bristol, Tennessee needed money to invest in a Salsarita's franchise back in 2006. Citizens Bank issued an SBA franchise loan. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

SALSARITA'S
BRISTOL, TN 37620

SBA Loan Lender

CITIZENS BANK
300 BROAD ST
ELIZABETHTON, TN 37643

This SBA loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/11/2006

Loan Approval Gross Amount

$346,884

Loan Approval from the SBA

Of the total $346,884 loan amount, the SBA guaranteed $260,163.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Salsarita's franchise. At the time of the loan, the company had 35 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 $346,884 loan. Remember, feel the fear, and do it anyway.

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:

Salsarita's Fresh Cantina

Understanding Dilution

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