Iowa Entrepreneur Secures Financing to Buy New York Ny Fresh Deli Franchise

Need a loan to invest in a New York Ny Fresh Deli franchise? Cedar Rapids Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a New York Ny Fresh Deli franchise shouldn't be overly burdensome. In 2005, Cedar Rapids Bank & Trust issued an SBA franchise loan to an entrepreneur in Cedar Rapids, Iowa. Because New York Ny Fresh Deli was registered with the SBA's registry of franchises, this Iowa small business loan was issued on an expedited basis.

SBA Loan Borrower

NEW YORK NY FRESH DELI
CEDAR RAPIDS, IA 52401

SBA Loan Lender

CEDAR RAPIDS BANK & TRUST
500 1ST AVE NE, STE 100
CEDAR RAPIDS, IA 52401

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/25/2005

Loan Approval Gross Amount

$208,000

Loan Approval from the SBA

Of the total $208,000 loan amount, the SBA guaranteed $156,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a New York Ny Fresh Deli franchise. At the time of the loan, the company had 21 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cedar Rapids Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cedar Rapids Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Getting a Small Business Loan

Good Banks for Small Business in Cedar Rapids, Iowa

SBA Iowa Banks