Michigan Entrepreneur Secures Financing to Buy Jimmy John's Franchise

Borrowing money to invest in a Jimmy John's franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Jimmy John's franchise may simply require a phone call to a local SBA banker. In 2002, Citizens Bank issued an SBA franchise loan to an entrepreneur in Freeland, Michigan. Because Jimmy John's was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

MKB MANAGEMENT INC
FREELAND, MI 48623

SBA Loan Lender

CITIZENS BANK
328 S SAGINAW ST
FLINT, MI 48502

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/29/2002

Loan Approval Gross Amount

$231,600

Loan Approval from the SBA

Of the total $231,600 loan amount, the SBA guaranteed $173,700.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Jimmy John's franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the borrowed money would help create 12 new jobs.

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SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We've showcased information on this loan to let you know that businesses like yours 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.

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