Borrow Money to Buy a Friendly's Franchise

Need money to purchase a Friendly's franchise? Florence Savings Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Hadley, Massachusetts and are interested in buying a Friendly's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Florence Savings Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GLG CORP AND SBC REALTY
HADLEY, MA 01035

SBA Loan Lender

FLORENCE SAVINGS BANK
85 MAIN ST
FLORENCE, MA 01062

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/23/2005

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $82,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Friendly's franchise. At the time of the loan, the company had 105 employees. The loan application indicated that the loan would help retain 105 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Friendly's Restaurants

Advice on Getting a Small Business Loan

Who Lends Money to Small Businesses in Florence, Massachusetts

Where to Get an SBA Loan Massachusetts