Richardson, TX Entrepreneur Gets SBA Loan to Buy Schlotzsky's Sandwich Shop Franchise

Need a loan to invest in a Schlotzsky's Sandwich Shop franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Richardson, Texas and are interested in buying a Schlotzsky's Sandwich Shop franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Wells Fargo Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SCHLOTZSKY'S DELI
RICHARDSON, TX 75080

SBA Loan Lender

WELLS FARGO BANK
1400 S MAIN ST
GRAPEVINE, TX 76051

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

1/11/2000

Loan Approval Gross Amount

$129,000

Loan Approval from the SBA

Of the total $129,000 loan amount, the SBA guaranteed $96,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Schlotzsky's Sandwich Shop franchise. At the time of the loan, the company had 27 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $129,000 loan. Remember, anyone can do it... so why not you?

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:

Schlotzsky's Deli

Small Business Loan

SBA 7A Banks for Grapevine, Texas Loans

Getting an SBA Loan in Texas