Loan to Buy Bevinco Franchise Issued By Self-Help Cu

Need a loan to invest in a Bevinco franchise? Self-Help Cu has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Bevinco franchise may simply require a phone call to a local SBA banker. In 2002, Self-Help Cu issued an SBA franchise loan to an entrepreneur in Jamestown, North Carolina. Because Bevinco was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

BEVINCO OF THE CAROLINAS
JAMESTOWN, NC 27282

SBA Loan Lender

SELF-HELP CU
301 W MAIN ST
DURHAM, NC 27701

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561990 - Support Services

Loan Approval Date

3/5/2002

Loan Approval Gross Amount

$74,200

Loan Approval from the SBA

Of the total $74,200 loan amount, the SBA guaranteed $63,070.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Bevinco franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

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