Nevada Entrepreneur Secures Financing to Buy Hogi Yogi Franchise

Need a loan to buy a Hogi Yogi franchise? Great Basin Bank Of Nevada has a history of making these loans and they are guaranteed by the SBA.

If you live near Elko, Nevada and are interested in buying a Hogi Yogi franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Great Basin Bank Of Nevada. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

HOGI YOGI
ELKO, NV 89801

SBA Loan Lender

GREAT BASIN BANK OF NEVADA
487 RAILROAD ST
ELKO, NV 89801

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/14/2004

Loan Approval Gross Amount

$112,500

Loan Approval from the SBA

Of the total $112,500 loan amount, the SBA guaranteed $95,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Hogi Yogi franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Hogi Yogi

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SBA Banks in Elko, Nevada

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