Colorado Entrepreneur Secures Financing to Buy Cousins Submarines restaurant Franchise

Borrowing money to invest in a Cousins Submarines restaurant franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Colorado Springs, Colorado needed money to invest in a Cousins Submarines restaurant franchise back in 2000. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COUSINS SUBS
COLORADO SPRINGS, CO 80922

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

8/3/2000

Loan Approval Gross Amount

$237,000

Loan Approval from the SBA

Of the total $237,000 loan amount, the SBA guaranteed $177,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cousins Submarines restaurant franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 25 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $237,000 loan. Remember, fight for what you want, and it will be yours!

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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