Borrow Money to Buy a Cgi Franchise Systems Franchise

Borrowing money to purchase a Cgi Franchise Systems franchise? State Bank Northwest has a history of making these loans and they are guaranteed by the SBA.

Cgi Franchise Systems franchise loans are available to Spokane, Washington entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, State Bank Northwest, based in Spokane, Washington, issued an SBA franchise loan for a Cgi Franchise Systems franchise in 2003. We've got all the details on this Washington small business loan.

SBA Loan Borrower

LYON SHIPPING,INC
SPOKANE, WA 99223

SBA Loan Lender

STATE BANK NORTHWEST
12902 E SPRAGUE
SPOKANE, WA 99216

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring 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

488510 - Freight Transportation Arrangement

Loan Approval Date

4/23/2003

Loan Approval Gross Amount

$51,700

Loan Approval from the SBA

Of the total $51,700 loan amount, the SBA guaranteed $43,945.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cgi Franchise Systems franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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