Mesa, AZ Entrepreneur Gets SBA Loan to Buy Pickerman's Franchise

Borrowing money to buy a Pickerman's franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Pickerman's franchise? If so, here's a 2001 SBA franchise loan that you should know about. Bank Of America was the lender and the entrepreneur was based in Mesa, Arizona.

SBA Loan Borrower

PICKERMAN'S SOUP AND SANDWICH
MESA, AZ 85210

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This lender provides SBA 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

722211 - Limited-Service Restaurants

Loan Approval Date

4/4/2001

Loan Approval Gross Amount

$111,300

Loan Approval from the SBA

Of the total $111,300 loan amount, the SBA guaranteed $89,040.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pickerman's franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 12 new jobs and retain 1 existing job.

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $111,300 loan. Remember, where there is a will, there is a way!

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:

SBIR Funding

Where to Get an SBA Loan in Charlotte, North Carolina

North Carolina SBA 7A Lenders