Carlsbad, NM Entrepreneur Gets SBA Loan to Buy Fantastic Sam's Franchise

Need money to invest in a Fantastic Sam's franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fantastic Sam's franchise shouldn't be too tough. In 2007, Banco Popular North America issued an SBA franchise loan to an entrepreneur in Carlsbad, New Mexico. Because Fantastic Sam's was registered with the SBA's registry of franchises, this New Mexico small business loan was issued on an expedited basis.

SBA Loan Borrower

FANTASTIC SAM'S
CARLSBAD, NM 88220

SBA Loan Lender

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

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

111140 - Wheat Farming

Loan Approval Date

5/31/2007

Loan Approval Gross Amount

$164,400

Loan Approval from the SBA

Of the total $164,400 loan amount, the SBA guaranteed $123,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 7 new jobs and retain 9 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

Fantastic Sams

Alternative Financing

Small Business Banks in New York City, New York

SBA New York Lenders