New Jersey Entrepreneur Secures Financing to Buy Candy Bouquet,Inc Franchise

Need money to buy a Candy Bouquet,Inc franchise? Columbia Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Candy Bouquet,Inc franchise shouldn't be overly burdensome. In 2002, Columbia Bank issued an SBA franchise loan to an entrepreneur in Wayne, New Jersey. Because Candy Bouquet,Inc was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

CANDY BOUQUET
WAYNE, NJ 07470

SBA Loan Lender

COLUMBIA BANK
19-01 RTE 208
FAIR LAWN, NJ 07410

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

5/8/2002

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Candy Bouquet,Inc franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Candy Bouquet

The Friends and Family Network

SBA Approved Banks in Fair Lawn, New Jersey

New Jersey SBA 7A Lenders