Schertz Bank & Trust Provides SBA Loan to Buy New York Burrito Gourmet Wraps Franchise

Borrowing money to buy a New York Burrito Gourmet Wraps franchise? Schertz Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in San Antonio, Texas needed money to invest in a New York Burrito Gourmet Wraps franchise back in 2001. Schertz Bank & Trust issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

NEW YORK BURRITO
SAN ANTONIO, TX 78228

SBA Loan Lender

SCHERTZ BANK & TRUST
519 MAIN ST
SCHERTZ, TX 78154

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/1/2001

Loan Approval Gross Amount

$66,000

Loan Approval from the SBA

Of the total $66,000 loan amount, the SBA guaranteed $56,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a New York Burrito Gourmet Wraps franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

New York Burrito-Gourmet Wraps

Microlending as a Small Business Funding Source

Small Bank Loans in Schertz, Texas

SBA Participating Banks in Texas