Langhorne, PA Entrepreneur Gets SBA Loan to Buy Manhattan Bagel Co. Franchise

Need a loan to invest in a Manhattan Bagel Co. franchise? Sovereign Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Langhorne, Pennsylvania and are interested in buying a Manhattan Bagel Co. franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Sovereign Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MANHATTAN BAGELS
LANGHORNE, PA 19053

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

12/11/2001

Loan Approval Gross Amount

$207,000

Loan Approval from the SBA

Of the total $207,000 loan amount, the SBA guaranteed $155,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Manhattan Bagel Co. franchise. At the time of the loan, the company had only one employee. The loan application indicated that the borrowed money would help create 7 new jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Sovereign Bank and they will explain how you can get an SBA loan for your company.

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:

Manhattan Bagel Company, Inc.

How to Raise Money

Small Business Banks in Wyomissing, Pennsylvania

Getting an SBA Loan in Pennsylvania