Loan to Buy Pickerman's Franchise Issued By Rbs Citizens

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

If you live near Naperville, Illinois and are interested in buying a Pickerman's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Rbs Citizens. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

PICKERMAN'S
NAPERVILLE, IL 60564

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/31/2002

Loan Approval Gross Amount

$116,800

Loan Approval from the SBA

Of the total $116,800 loan amount, the SBA guaranteed $99,280.

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 10 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

Small Business Loan

SBA Participating Banks in Providence, Rhode Island

Getting a Business Loan in Rhode Island