Florence Savings Bank Provides SBA Loan to Buy Friendly's Franchise

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

Friendly's franchise loans are available to Hadley, Massachusetts entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Florence Savings Bank, based in Florence, Massachusetts, issued an SBA franchise loan for a Friendly's franchise in 2002. We've got all the details on this Massachusetts small business loan.

SBA Loan Borrower

SBC REALTY, LLC
HADLEY, MA 01035

SBA Loan Lender

FLORENCE SAVINGS BANK
85 MAIN ST
FLORENCE, MA 01062

This lender provides SBA loan for small businesses 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

7/12/2002

Loan Approval Gross Amount

$1,175,000

Loan Approval from the SBA

Of the total $1,175,000 loan amount, the SBA guaranteed $881,250.

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. This SBA loan request indicated that the loan would help retain 105 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Florence Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Florence Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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