City Bank Provides SBA Loan to Buy Blimpie Franchise
Need money to buy a Blimpie franchise? City Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Seattle, Washington needed money to invest in a Blimpie franchise back in 2000. City Bank issued an SBA franchise loan. Here are the details on this Washington small business loan.
SBA Loan Borrower
BELLE & MICHAEL, INC.
SEATTLE, WA 98101
SBA Loan Lender
CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087
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.
SIC Code
5812 - Eating Places
Loan Approval Date
2/10/2000
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $80,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company
had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
This SBA loan was for $100,000. How would you spend $100,000 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:
Blimpie Subs & Salads
Dealing With Venture Capitalists
Best Banks in Lynnwood, Washington
Where to Get an SBA Loan Washington