Salt Lake City, UT Entrepreneur Gets SBA Loan to Buy Blimpie Franchise

Need money to purchase a Blimpie franchise? First Utah Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Blimpie franchise shouldn't be overly burdensome. In 2002, First Utah Bank issued an SBA franchise loan to an entrepreneur in Salt Lake City, Utah. Because Blimpie was registered with the SBA's registry of franchises, this Utah small business loan was issued on an expedited basis.

SBA Loan Borrower

BLIMPIE SUBS AND SALADS
SALT LAKE CITY, UT 84047

SBA Loan Lender

FIRST UTAH BANK
11025 SOUTH STATE ST
SANDY, UT 84070

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/12/2002

Loan Approval Gross Amount

$93,500

Loan Approval from the SBA

Of the total $93,500 loan amount, the SBA guaranteed $79,475.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

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 First Utah Bank 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:

Blimpie Subs & Salads

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Where to Get an SBA Loan in Sandy, Utah

Utah SBA Banks