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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Antioch, Business Loans > State Bank Of The Lakes Antioch Business Loans > Moe's Southwest Grill Loan | ||||
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Requirements for Borrowing Money to Buy a Franchise
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State Bank Of The Lakes Provides SBA Loan to Buy Moe's Sw Grill FranchiseNeed money to purchase a Moe's Sw Grill franchise? State Bank Of The Lakes has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Northbrook, Illinois needed money to invest in a Moe's Sw Grill franchise back in 2007. State Bank Of The Lakes issued an SBA franchise loan. Here are the details on this Illinois small business loan. SBA Loan Borrower MOE'S SOUTHWEST GRILL SBA Loan Lender STATE BANK OF THE LAKES The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/17/2007 Loan Approval Gross Amount $454,650 Loan Approval from the SBA Of the total $454,650 loan amount, the SBA guaranteed $340,987. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Moe's Sw Grill franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the borrowed money would help generate 10 new jobs. Great, But How Can I Get an SBA Loan for My Business? 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: A Company That Helps Entrepreneurs
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