Fort Collins, CO Entrepreneur Gets SBA Loan to Buy Runza Drive-Inn Restaurant Franchise

Need money to invest in a Runza Drive-Inn Restaurant franchise? Home State Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Runza Drive-Inn Restaurant franchise? If so, here's a 2005 SBA franchise loan that you should know about. Home State Bank was the lender and the entrepreneur was based in Fort Collins, Colorado.

SBA Loan Borrower

RUNZA RESTAURANT
FORT COLLINS, CO 80525

SBA Loan Lender

HOME STATE BANK
2695 W EISENHOWER BLVD
LOVELAND, CO 80538

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/9/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Runza Drive-Inn Restaurant franchise. At the time of the loan, the company had 17 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Home State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Obtaining Funding - How to Borrow Money

Who Lends Money to Small Businesses in Loveland, Colorado

SBA Lenders in Colorado