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

Need 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.

An entrepreneur in Carver, Massachusetts needed money to invest in a Blockbuster Video franchise back in 2006. Banco Popular North America issued an SBA franchise loan. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

BLOCKBUSTER VIDEO
CARVER, MA 02330

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

3/7/2006

Loan Approval Gross Amount

$1,670,000

Loan Approval from the SBA

Of the total $1,670,000 loan amount, the SBA guaranteed $1,252,500.

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 57 employees. The loan application indicated that the loan would help retain 52 existing jobs.

Getting an SBA Loan For Your Business

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Banco Popular North America and they will explain how you can get an SBA loan for your company.

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.

504 Loans

Good Banks for Small Business in New York City, New York

SBA New York Banks