Wells Fargo Bank Provides SBA Loan to Buy Joey's Only Franchise

Need money to invest in a Joey's Only franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Joey's Only franchise shouldn't be overly burdensome. In 2002, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Houghton, Michigan. Because Joey's Only was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

JOEY'S ONLY SEAFOOD RESTAURANT
HOUGHTON, MI 49931

SBA Loan Lender

WELLS FARGO BANK
90 S 7TH ST
MINNEAPOLIS, MN 55402

This lender provides SBA business 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

10/31/2002

Loan Approval Gross Amount

$165,000

Loan Approval from the SBA

Of the total $165,000 loan amount, the SBA guaranteed $123,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Joey's Only franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

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

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $165,000 loan. Remember, you control your own destiny.

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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