Loan to Buy Scorchers Franchise Issued By Rbs Citizens

Borrowing money to purchase a Scorchers franchise? Rbs Citizens has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Scorchers franchise shouldn't be overly burdensome. In 2003, Rbs Citizens issued an SBA franchise loan to an entrepreneur in Erie, Pennsylvania. Because Scorchers was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

S & S FOOD AND SPIRITS INC
ERIE, PA 16505

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903

This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722110 - Full-Service Restaurants

Loan Approval Date

7/15/2003

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Scorchers franchise. At the time of the loan, the company had 21 employees. The loan application indicated that the loan would help retain 21 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Rbs Citizens are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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