Grand Junction, CO Entrepreneur Gets SBA Loan to Buy My Favorite Muffin Franchise

Need a loan to buy a My Favorite Muffin franchise? Business Lenders, LLC has a history of making these loans and they are guaranteed by the SBA.

My Favorite Muffin franchise loans are available to Grand Junction, Colorado entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Business Lenders, LLC, based in Hartford, Connecticut, issued an SBA franchise loan for a My Favorite Muffin franchise in 2004. We've got all the details on this Colorado small business loan.

SBA Loan Borrower

MY FAVORITE MUFFIN & BAGEL CAF
GRAND JUNCTION, CO 81506

SBA Loan Lender

BUSINESS LENDERS, LLC
50 STATE HOUSE SQUARE 5TH FL
HARTFORD, CT 06103

This lender issued this particular SBA 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

236115 - New Single-Family Housing Construction

Loan Approval Date

12/13/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a My Favorite Muffin franchise. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Determining Proper Capital Structure for a Business

Who Lends Money to Small Businesses in Hartford, Connecticut

Getting an SBA Loan in Connecticut