Canandaigua National Bank & Trust Provides SBA Loan to Buy Arby's Franchise

Borrowing money to invest in an Arby's franchise? Canandaigua National Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Arby's franchise requires some effort but others before you have been successful. In 2001, Canandaigua National Bank & Trust issued an SBA franchise loan to an entrepreneur in Canandaigua, New York. Because Arby's was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.

SBA Loan Borrower

FRANT CORPORATION
CANANDAIGUA, NY 14424

SBA Loan Lender

CANANDAIGUA NATIONAL BANK & TRUST
18 STATE ST
PITTSFORD, NY 14534

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/25/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Arby's franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the funding would help generate 10 new jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Canandaigua National Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Arby's, LLC

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Small Business Banks in Pittsford, New York

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