Loan to Buy General Nutrition Center Franchise Issued By Banco Popular North America
Borrowing money to purchase a General Nutrition Center franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a General Nutrition Center franchise requires some effort but others before you have been successful. In 2001, Banco Popular North America issued an SBA franchise loan to an entrepreneur in New York, New York. Because General Nutrition Center was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.
SBA Loan Borrower
GENERAL NUTRITION CENTER
NEW YORK, NY 11220
SBA Loan Lender
BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
446191 - Food Supplement Stores
Loan Approval Date
10/9/2001
Loan Approval Gross Amount
$125,000
Loan Approval from the SBA
Of the total $125,000 loan amount, the SBA guaranteed $106,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a General Nutrition Center franchise. At the time of the loan, the company
had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
We can help you find the best banks for small businesses in New York or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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:
General Nutrition Centers / GNC Live Well
Obtaining Funding - Friends and Family
Best New York City, New York Banks for Small Business
New York SBA 7A Banks