1st Source Bank Provides SBA Loan to Buy Moe's Sw Grill Franchise

Borrowing money to purchase a Moe's Sw Grill franchise? 1st Source Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Moe's Sw Grill franchise may simply require a phone call to a local SBA banker. In 2007, 1st Source Bank issued an SBA franchise loan to an entrepreneur in Granger, Indiana. Because Moe's Sw Grill was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

4E GROUP LTD
GRANGER, IN 46530

SBA Loan Lender

1ST SOURCE BANK
100 N MICHIGAN ST
SOUTH BEND, IN 46601

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

5/31/2007

Loan Approval Gross Amount

$235,000

Loan Approval from the SBA

Of the total $235,000 loan amount, the SBA guaranteed $117,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Moe's Sw Grill franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st Source Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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