Florida Entrepreneur Secures Financing to Buy Cherry's Restaurant Franchise

Need a loan to invest in a Cherry's Restaurant franchise? Ups Capital Business Credit has a history of making these loans and they are guaranteed by the SBA.

If you live near Riverview, Florida and are interested in buying a Cherry's Restaurant franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Ups Capital Business Credit. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

CHERRY'S
RIVERVIEW, FL 33569

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/7/2007

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Cherry's Restaurant franchise. At the time of the loan, the company had 24 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 24 existing jobs.

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

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

This SBA loan was for $700,000. How would you spend $700,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Small Business Loan

SBA 7A Lenders in Windsor, Connecticut

Connecticut SBA 7A Lenders