Loan to Buy Friendly's Franchise Issued By Banco Popular North America

Need a loan to purchase a Friendly's franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Friendly's franchise loans are available to Wilmington, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Banco Popular North America, based in Orlando, Florida, issued an SBA franchise loan for a Friendly's franchise in 2002. We've got all the details on this North Carolina small business loan.

SBA Loan Borrower

EDIE'S FAMILY RESTAURANT
WILMINGTON, NC 28405

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
11681 S ORANGE BLOSSOM TRL, S
ORLANDO, FL 32837

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/28/2002

Loan Approval Gross Amount

$226,000

Loan Approval from the SBA

Of the total $226,000 loan amount, the SBA guaranteed $169,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Friendly's franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to borrow money from friends and family, 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:

Friendly's Restaurants

Business Line of Credit

Banks in Orlando, Florida

Florida SBA 7A Lenders