Nevada Entrepreneur Secures Financing to Buy Spicy Pickle Franchise

Need money to invest in a Spicy Pickle franchise? Nevada Security Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Spicy Pickle franchise may simply require a phone call to a local SBA banker. In 2006, Nevada Security Bank issued an SBA franchise loan to an entrepreneur in Reno, Nevada. Because Spicy Pickle was registered with the SBA's registry of franchises, this Nevada small business loan was issued on an expedited basis.

SBA Loan Borrower

SPICY PICKLE
RENO, NV 89509

SBA Loan Lender

NEVADA SECURITY BANK
9990 DOUBLE R BLVD
RENO, NV 89521

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/19/2006

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Spicy Pickle franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

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:

Spicy Pickle Franchising, LLC

Understanding Dilution

SBA Approved Banks in Reno, Nevada

Where to Get an SBA Loan Nevada