West Boylston, MA Entrepreneur Gets SBA Loan to Buy Mcdonald's Franchise

Need a loan to purchase a Mcdonald's franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Mcdonald's franchise? If so, here's a 2001 SBA franchise loan that you should know about. Bank Of America was the lender and the entrepreneur was based in West Boylston, Massachusetts.

SBA Loan Borrower

MCDONALDS OF WEST BOYLSTON
WEST BOYLSTON, MA 01583

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/17/2001

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mcdonald's franchise. At the time of the loan, the company had 43 employees. The loan application indicated that the loan would help retain 43 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

McDonald's Corporation

Business Incubators

SBA Approved Banks in Providence, Rhode Island

Rhode Island SBA Banks