 |
 |
December 22, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > New York Business Loan Sources > Clinton, Business Loans > Unity Bank Clinton Business Loans > Edible Arrangements Loan | ||||
 |
||||
Advice for Borrowing Money to Buy a Franchise
|
||||
 |
Clifton Park, NY Entrepreneur Gets SBA Loan to Buy Edible Arrangements FranchiseNeed money to buy an Edible Arrangements franchise? Unity Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Clifton Park, New York needed money to invest in an Edible Arrangements franchise back in 2005. Unity Bank issued an SBA franchise loan. Here are the details on this New York small business loan. SBA Loan Borrower EDIBLE ARRANGEMENTS SBA Loan Lender UNITY BANK 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. SIC Code 5947 - Gift, Novelty, and Souvenir Shops NAICS Code 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 11/25/2005 Loan Approval Gross Amount $112,500 Loan Approval from the SBA Of the total $112,500 loan amount, the SBA guaranteed $95,625. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an Edible Arrangements franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Unity Bank 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: Family and Friend Investors - Your First Financiers Best Clinton, New Jersey Banks for Small Business
|
|
||
|
||||
|
|
||||