Illinois Entrepreneur Secures Financing to Buy Big Apple Bagels Franchise

Need money to invest in a Big Apple Bagels franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

If you live near Grayslake, Illinois and are interested in buying a Big Apple Bagels franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Banco Popular North America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BIG APPLE BAGELS
GRAYSLAKE, IL 60013

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
4000 W NORTH AVE
CHICAGO, IL 60639

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/29/2003

Loan Approval Gross Amount

$131,000

Loan Approval from the SBA

Of the total $131,000 loan amount, the SBA guaranteed $111,350.

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 SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This SBA loan was for $131,000. How would you spend $131,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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