Middletown, CT Entrepreneur Gets SBA Loan to Buy Blimpie Franchise

Need a loan to buy a Blimpie franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Blimpie franchise shouldn't be too tough. In 2002, Independence Bank issued an SBA franchise loan to an entrepreneur in Middletown, Connecticut. Because Blimpie was registered with the SBA's registry of franchises, this Connecticut small business loan was issued on an expedited basis.

SBA Loan Borrower

BLIMPIE
MIDDLETOWN, CT 06457

SBA Loan Lender

INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818

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.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/30/2002

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Middletown CT, you ought to talk with a local Middletown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Middletown businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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