Loan to Buy Shapexpress Franchise Issued By Banco Popular North America

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

Getting money to buy a Shapexpress franchise shouldn't be overly burdensome. In 2005, Banco Popular North America issued an SBA franchise loan to an entrepreneur in Willowbrook, Illinois. Because Shapexpress was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

SHAPE XPRESS
WILLOWBROOK, IL 60527

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

5/12/2005

Loan Approval Gross Amount

$201,000

Loan Approval from the SBA

Of the total $201,000 loan amount, the SBA guaranteed $150,750.

More Information on This SBA Loan

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

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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.

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