Maryland Entrepreneur Secures Financing to Buy Simply-A-$1.00 Franchise

Borrowing money to purchase a Simply-A-$1.00 franchise? Development Credit Fund Inc has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Simply-A-$1.00 franchise is doable. In 2000, Development Credit Fund Inc issued an SBA franchise loan to an entrepreneur in Cumberland, Maryland. Because Simply-A-$1.00 was registered with the SBA's registry of franchises, this Maryland small business loan was issued on an expedited basis.

SBA Loan Borrower

SIMPLY A $1.00
CUMBERLAND, MD 21502

SBA Loan Lender

DEVELOPMENT CREDIT FUND INC
2530 N CHARLES ST
BALTIMORE, MD 21218

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

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

9/26/2000

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $90,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Simply-A-$1.00 franchise. At the time of the loan, the company had only one employee. The loan application indicated that the funding would help create 5 new jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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