Cedar Rapids Bank & Trust Provides SBA Loan to Buy New York Ny Fresh Deli Franchise

Need money to buy 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.

An entrepreneur in Cedar Rapids, Iowa needed money to invest in a New York Ny Fresh Deli franchise back in 2006. Cedar Rapids Bank & Trust issued an SBA franchise loan. Here are the details on this Iowa small business loan.

SBA Loan Borrower

NEW YORK NY FRESH DELI
CEDAR RAPIDS, IA 52403

SBA Loan Lender

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

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

12/6/2006

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $108,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a New York Ny Fresh Deli franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 20 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

This SBA loan was for $145,000. How would you spend $145,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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