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December 22, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Columbus, Business Loans > Suntrust Bank Columbus Business Loans > Blimpie Loan | ||||
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Smiths, Alabama Bank for SBA Loans
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Suntrust Bank Provides SBA Loan to Buy Blimpie FranchiseBorrowing money to buy a Blimpie franchise? Suntrust Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Smiths, Alabama needed money to invest in a Blimpie franchise back in 2002. Suntrust Bank issued an SBA franchise loan. Here are the details on this Alabama small business loan. SBA Loan Borrower BLIMPIE SBA Loan Lender SUNTRUST BANK This was a Low Documentation SBA loan. The SBA created this program to limit 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. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 7/10/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need 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 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: How Much Venture Capital Is There? SBA 7A Banks in Columbus, Georgia
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