Loan to Buy Morrow's Nut House Franchise Issued By Bank Of America

Need a loan to buy a Morrow's Nut House franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mount Laurel, New Jersey needed money to invest in a Morrow's Nut House franchise back in 2002. Bank Of America issued an SBA franchise loan. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

ONE HOUR MOTO PHOTO & POTRAIT
MOUNT LAUREL, NJ 08054

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812922 - One-Hour Photofinishing

Loan Approval Date

8/13/2002

Loan Approval Gross Amount

$96,800

Loan Approval from the SBA

Of the total $96,800 loan amount, the SBA guaranteed $48,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Morrow's Nut House franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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