Staten Island, NY Entrepreneur Gets SBA Loan to Buy Dream Dinners Franchise

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

An entrepreneur in Staten Island, New York needed money to invest in a Dream Dinners franchise back in 2007. Banco Popular North America issued an SBA franchise loan. Here are the details on this New York small business loan.

SBA Loan Borrower

DREAM DINNERS
STATEN ISLAND, NY 10309

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

12/18/2007

Loan Approval Gross Amount

$257,500

Loan Approval from the SBA

Of the total $257,500 loan amount, the SBA guaranteed $193,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dream Dinners franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 1 existing job.

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Banco Popular North America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Dream Dinners

Obtaining Funding - How to Decide How Much to Raise

SBA 7A Banks for New York City, New York Loans

Getting a Business Loan in New York