Terre Haute, IN Entrepreneur Gets SBA Loan to Buy Big Apple Bagels Franchise

Borrowing money to purchase a Big Apple Bagels franchise? Old National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Terre Haute, Indiana and are interested in buying a Big Apple Bagels franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Old National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BIG APPLE BAGELS
TERRE HAUTE, IN 47802

SBA Loan Lender

OLD NATIONAL BANK
ONE MAIN ST
EVANSVILLE, IN 47708

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

9/29/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Big Apple Bagels franchise. At the time of the loan, the company had 24 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Big Apple Bagels

Small Business Loan

SBA Approved Banks in Evansville, Indiana

Where to Get an SBA Loan Indiana