Borrow Money to Buy a The UPS Store Franchise

Borrowing money to buy a UPS Store franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a The UPS Store franchise may simply require a phone call to a local SBA banker. In 2004, Community So. Bank D.B.A Commun issued an SBA franchise loan to an entrepreneur in Clyde, North Carolina. Because The UPS Store was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

THE UPS STORE
CLYDE, NC 28721

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561910 - Packaging and Labeling Services

Loan Approval Date

8/26/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a The UPS Store franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

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.

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 Community So. Bank D.B.A Commun 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.

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