Illinois Entrepreneur Secures Financing to Buy Big Apple Bagels Franchise

Need a loan to purchase a Big Apple Bagels franchise? Shorebank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Big Apple Bagels franchise may simply require a phone call to a local SBA banker. In 2005, Shorebank issued an SBA franchise loan to an entrepreneur in Glenview, Illinois. Because Big Apple Bagels was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

BIG APPLE BAGEL (KAREENA CORPO
GLENVIEW, IL 60025

SBA Loan Lender

SHOREBANK
219 S MANNHEIM RD
BELLWOOD, IL 60104

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/3/2005

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Big Apple Bagels franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Big Apple Bagels

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Who Lends Money to Small Businesses in Bellwood, Illinois

SBA Lenders in Illinois