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November 21, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > New York, Business Loans > Newtek Small Business Finance Inc. New York Business Loans > Moe's Southwest Grill Loan | ||||
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Raising Money in Richmond, Virginia With SBA Loans
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Virginia Entrepreneur Secures Financing to Buy Moe's Sw Grill FranchiseNeed money to invest in a Moe's Sw Grill franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Richmond, Virginia needed money to invest in a Moe's Sw Grill franchise back in 2005. Newtek Small Business Finance Inc. issued an SBA franchise loan. Here are the details on this Virginia small business loan. SBA Loan Borrower MOE'S SOUTHWEST GRILL SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 1/12/2005 Loan Approval Gross Amount $267,000 Loan Approval from the SBA Of the total $267,000 loan amount, the SBA guaranteed $200,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Moe's Sw Grill franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 24 new jobs and retain 25 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Newtek Small Business Finance Inc. and they will explain how you can get an SBA loan for your company. 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: Best Banks for Small Business in New York, New York
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