Loan to Buy Bearno's Little Sicily Franchise Issued By State Of Franklin Savings Bank

Need money to purchase a Bearno's Little Sicily franchise? State Of Franklin Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Bearno's Little Sicily franchise? If so, here's a 2001 SBA franchise loan that you should know about. State Of Franklin Savings Bank was the lender and the entrepreneur was based in Johnson City, Tennessee.

SBA Loan Borrower

BEARNO'S LITTLE SICILY
JOHNSON CITY, TN 37601

SBA Loan Lender

STATE OF FRANKLIN SAVINGS BANK
1907 N ROAN ST
JOHNSON CITY, TN 37601

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/10/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Bearno's Little Sicily franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We can help you find the best banks for small businesses in Johnson City or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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