Bank Of America Provides SBA Loan to Buy Salad Works Franchise

Borrowing money to purchase a Salad Works franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Salad Works franchise may simply require a phone call to a local SBA banker. In 2002, Bank Of America issued an SBA franchise loan to an entrepreneur in Willow Grove, Pennsylvania. Because Salad Works was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

MERR ENTERPRISES LLC
WILLOW GROVE, PA 19090

SBA Loan Lender

BANK OF AMERICA
4 SENTRY PKWY, STE 200
BLUE BELL, PA 19422

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/5/2002

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Salad Works 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.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Saladworks, Inc.

How to Raise Money

SBA Banks in Blue Bell, Pennsylvania

Pennsylvania SBA 7A Banks