Illinois Entrepreneur Secures Financing to Buy Big Apple Bagels Franchise

Borrowing money to purchase a Big Apple Bagels franchise? Alpine Bank Of Illinois has a history of making these loans and they are guaranteed by the SBA.

If you live near Rockford, Illinois and are interested in buying a Big Apple Bagels franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Alpine Bank Of Illinois. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BIG APPLE BAGELS
ROCKFORD, IL 61108

SBA Loan Lender

ALPINE BANK OF ILLINOIS
1700 N ALPINE RD
ROCKFORD, IL 61107

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/28/2001

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Big Apple Bagels franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Big Apple Bagels

How to Raise Money

Best Rockford, Illinois Banks for Small Business

Illinois SBA 7A Lenders