Borrow Money to Buy a Blimpie Franchise

Need money to invest in a Blimpie franchise? Community Bank, Coast has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Blimpie franchise? If so, here's a 2004 SBA franchise loan that you should know about. Community Bank, Coast was the lender and the entrepreneur was based in Gulfport, Mississippi.

SBA Loan Borrower

THE SAGO GROUP,INC
GULFPORT, MS 39503

SBA Loan Lender

COMMUNITY BANK, COAST
677 DR MARTIN LUTHER KING JR
BILOXI, MS 39530

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722211 - Limited-Service Restaurants

Loan Approval Date

6/29/2004

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower indicated that the loan would help create 9 new jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

Blimpie Subs & Salads

Obtaining Funding - Friends and Family

Small Business Banks in Biloxi, Mississippi

Mississippi SBA Bank Lenders