Borrow Money to Buy a Smoothie King health Food Store Franchise
Borrowing money to buy a Smoothie King health Food Store franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a Smoothie King health Food Store franchise requires some effort but others before you have been successful. In 2005, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Carbondale, Colorado. Because Smoothie King health Food Store was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis.
SBA Loan Borrower
SMOOTHIE KING
CARBONDALE, CO 81623
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
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
722211 - Limited-Service Restaurants
Loan Approval Date
8/17/2005
Loan Approval Gross Amount
$210,000
Loan Approval from the SBA
Of the total $210,000 loan amount, the SBA guaranteed $157,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Smoothie King health Food Store franchise. At the time of the loan, the company
had 2 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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:
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