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November 15, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Blimpie Subs Loan | ||||
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Raising Money in New Britain, Connecticut With SBA Loans
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Borrow Money to Buy a Blimpie FranchiseNeed a loan to buy a Blimpie franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in New Britain, Connecticut needed money to invest in a Blimpie franchise back in 2002. Independence Bank issued an SBA franchise loan. Here are the details on this Connecticut small business loan. SBA Loan Borrower BLIMPIE SUBS SBA Loan Lender INDEPENDENCE BANK 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 11/20/2002 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $93,500. 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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Independence Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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. Related Links: SBA Participating Banks in East Greenwich, Rhode Island
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