Cambridge, MA Entrepreneur Gets SBA Loan to Buy Blockbuster Video Franchise

Borrowing money to invest in a Blockbuster Video franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

If you live near Cambridge, Massachusetts and are interested in buying a Blockbuster Video franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by Banco Popular North America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BLOCKBUSTER
CAMBRIDGE, MA 02141

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

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

532230 - Video Tape and Disc Rental

Loan Approval Date

3/16/2006

Loan Approval Gross Amount

$1,555,000

Loan Approval from the SBA

Of the total $1,555,000 loan amount, the SBA guaranteed $1,166,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Blockbuster Video franchise. At the time of the loan, the company had 15 employees. The loan application indicated that the loan would help retain 14 existing jobs.

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

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 Banco Popular North America 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:

Blockbuster, Inc.

Obtaining Funding - Friends and Family

SBA Approved Banks in New York City, New York

New York SBA 7A Banks