Loan to Buy Edible Arrangements Franchise Issued By Bergen Comm. Bank A Division -

Need money to invest in an Edible Arrangements franchise? Bergen Comm. Bank A Division - has a history of making these loans and they are guaranteed by the SBA.

If you live near Propton Lakes, New Jersey and are interested in buying an Edible Arrangements franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Bergen Comm. Bank A Division -. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

EDIBLE ARRANGEMENT
PROPTON LAKES, NJ 07442

SBA Loan Lender

BERGEN COMM. BANK A DIVISION -
2 SEARS DR
PARAMUS, NJ 07652

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

1/16/2003

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 a new business. This loan was used to buy an Edible Arrangements franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bergen Comm. Bank A Division - that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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