Colorado Entrepreneur Secures Financing to Buy Schlotzsky's Sandwich Shop Franchise

Need a loan to invest in a Schlotzsky's Sandwich Shop franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Schlotzsky's Sandwich Shop franchise shouldn't be too tough. In 2001, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Colorado Springs, Colorado. Because Schlotzsky's Sandwich Shop was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis.

SBA Loan Borrower

SCHLOTSKY'S DELI
COLORADO SPRINGS, CO 80920

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

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

4/4/2001

Loan Approval Gross Amount

$1,381,000

Loan Approval from the SBA

Of the total $1,381,000 loan amount, the SBA guaranteed $999,995.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Schlotzsky's Sandwich Shop 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 20 new jobs and retain 20 existing jobs.

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

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

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 Wells Fargo 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:

Schlotzsky's Deli

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SBA 7A Banks in Minneapolis, Minnesota

Minnesota SBA Banks