Borrow Money to Buy a Ronzio Franchise

Borrowing money to buy a Ronzio franchise? Minority Invest Devel Corp. has a history of making these loans and they are guaranteed by the SBA.

If you live near Providence, Rhode Island and are interested in buying a Ronzio franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Minority Invest Devel Corp.. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

RONZIO PIZZA
PROVIDENCE, RI 02903

SBA Loan Lender

MINORITY INVEST DEVEL CORP.
216 WEYBOSSET ST., STE. 2
PROVIDENCE, RI 02903

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

722110 - Full-Service Restaurants

Loan Approval Date

1/10/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Ronzio franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Minority Invest Devel Corp. 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.

Related Links:

Ronzio Pizza

Obtaining Funding - Friends and Family

Small Business Banks in Providence, Rhode Island

Getting an SBA Loan in Rhode Island