Manchester, CT Entrepreneur Gets SBA Loan to Buy Tutor Time Franchise

Need money to invest in a Tutor Time franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Tutor Time franchise may simply require a phone call to a local SBA banker. In 2001, Bank Of The West issued an SBA franchise loan to an entrepreneur in Manchester, Connecticut. Because Tutor Time was registered with the SBA's registry of franchises, this Connecticut small business loan was issued on an expedited basis.

SBA Loan Borrower

TUTOR TIME OF MANCHESTER
MANCHESTER, CT 06040

SBA Loan Lender

BANK OF THE WEST
180 MONTGOMERY ST
SAN FRANCISCO, CA 94104

This lender provides SBA guaranteed 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

624410 - Child Day Care Services

Loan Approval Date

3/26/2001

Loan Approval Gross Amount

$454,000

Loan Approval from the SBA

Of the total $454,000 loan amount, the SBA guaranteed $340,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Tutor Time franchise. At the time of the loan, the company had 23 employees. The SBA loan application for the borrower indicated that the loan would help generate 60 new jobs and retain 33 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of The West had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of The West made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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