Utah Entrepreneur Secures Financing to Buy New York Burrito Gourmet Wraps Franchise
Need money to invest in a New York Burrito Gourmet Wraps franchise? Zions First National Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a New York Burrito Gourmet Wraps franchise is doable. In 2002, Zions First National Bank issued an SBA franchise loan to an entrepreneur in Cedar City, Utah. Because New York Burrito Gourmet Wraps was registered with the SBA's registry of franchises, this Utah small business loan was issued on an expedited basis.
SBA Loan Borrower
NEW YORK BURRITO OF SOUTHERN U
CEDAR CITY, UT 84720
SBA Loan Lender
ZIONS FIRST NATIONAL BANK
2460 SOUTH 3270 WEST, SBA DEP
WEST VALLEY CITY, UT 84119
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
722110 - Full-Service Restaurants
Loan Approval Date
5/14/2002
Loan Approval Gross Amount
$85,000
Loan Approval from the SBA
Of the total $85,000 loan amount, the SBA guaranteed $72,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a New York Burrito Gourmet Wraps franchise. At the time of the loan, the company
had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 2 existing jobs.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $85,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
New York Burrito-Gourmet Wraps
Getting a Small Business Loan
Good Banks for Small Business in West Valley City, Utah
Utah SBA 7A Banks