Borrow Money to Buy a Jimmy John's Franchise

Need a loan to buy a Jimmy John's franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Jimmy John's franchise loans are available to Park Ridge, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Stearns Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for a Jimmy John's franchise in 2005. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

JIMMY JOHN'S
PARK RIDGE, IL 60068

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/26/2005

Loan Approval Gross Amount

$241,000

Loan Approval from the SBA

Of the total $241,000 loan amount, the SBA guaranteed $180,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Jimmy John's franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help generate 11 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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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