Loan to Buy Bennigans Franchise Issued By Banco Popular North America

Borrowing money to invest in a Bennigans franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Sherrill, New York needed money to invest in a Bennigans franchise back in 2002. Banco Popular North America issued an SBA franchise loan. Here are the details on this New York small business loan.

SBA Loan Borrower

BENNIGAN'S RESTAURANT
SHERRILL, NY 13461

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
9600 W BRYN MAWR
ROSEMONT, IL 60018

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

7/31/2002

Loan Approval Gross Amount

$1,260,000

Loan Approval from the SBA

Of the total $1,260,000 loan amount, the SBA guaranteed $793,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Bennigans franchise. At the time of the loan, the company had 170 employees. The loan application indicated that the loan would help create 170 new jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Banco Popular North America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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