Colonie, NY Entrepreneur Gets SBA Loan to Buy Fuddrucker's Franchise

Need a loan to purchase a Fuddrucker's franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fuddrucker's franchise shouldn't be overly burdensome. In 2007, Banco Popular North America issued an SBA franchise loan to an entrepreneur in Colonie, New York. Because Fuddrucker's was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.

SBA Loan Borrower

FUDDRUCKERS
COLONIE, NY 11205

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/29/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fuddrucker's franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 29 new jobs and retain 29 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Banco Popular North America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Banco Popular North America 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.

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Fuddruckers, Inc.

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