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November 14, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Saint George, Business Loans > Sunfirst Bank Saint George Business Loans > Kid To Kid Loan | ||||
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Tips for Borrowing Money to Buy a Franchise
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Borrow Money to Buy a Kid To Kid FranchiseNeed money to invest in a Kid To Kid franchise? Sunfirst Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Kid To Kid franchise shouldn't be too tough. In 2005, Sunfirst Bank issued an SBA franchise loan to an entrepreneur in St. George, Utah. Because Kid To Kid was registered with the SBA's registry of franchises, this Utah small business loan was issued on an expedited basis. SBA Loan Borrower KID TO KID SBA Loan Lender SUNFIRST BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448130 - Children's and Infants' Clothing Stores Loan Approval Date 5/18/2005 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $46,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Kid To Kid franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $55,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Obtaining Funding - Getting Venture Capital SBA Approved Banks in Saint George, Utah
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