New Mexico Entrepreneur Secures Financing to Buy Image Arts Etc. Franchise

Need a loan to buy an Image Arts Etc. franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Image Arts Etc. franchise? If so, here's a 2001 SBA franchise loan that you should know about. Wells Fargo Bank was the lender and the entrepreneur was based in Las Cruces, New Mexico.

SBA Loan Borrower

L O V VENTURES
LAS CRUCES, NM 88001

SBA Loan Lender

WELLS FARGO BANK
6100 BANDERA RD
SAN ANTONIO, TX 78238

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

323110 - Commercial Lithographic Printing

Loan Approval Date

8/13/2001

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 an existing business. This loan was used to buy an Image Arts Etc. franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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