Pueblo, CO Entrepreneur Gets SBA Loan to Buy Woody's Hog Dogs Franchise

Borrowing money to purchase a Woody's Hog Dogs franchise? Vectra Bank Colorado has a history of making these loans and they are guaranteed by the SBA.

If you live near Pueblo, Colorado and are interested in buying a Woody's Hog Dogs franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Vectra Bank Colorado. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

WOODY'S HOT DOGS
PUEBLO, CO 81008

SBA Loan Lender

VECTRA BANK COLORADO
401 W NORTHERN AVE
PUEBLO, CO 81004

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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/30/2000

Loan Approval Gross Amount

$63,000

Loan Approval from the SBA

Of the total $63,000 loan amount, the SBA guaranteed $50,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Woody's Hog Dogs franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Borrowing Money from Friends and Family

SBA 7A Banks for Pueblo, Colorado Loans

Getting an SBA Loan in Colorado