Located in Independence, Missouri, Boxed Inc. is one of more than 5,500 UPS franchise locations across the country. As the world’s largest franchise retail shipper, UPS is known for fully supporting their franchise owners to help make its stores successful and ensure customer satisfaction.
Owner Navin Patel has spent over most of his career in the franchise industry, specifically with Subway. After 20 years with the company, Navin was ready for a new change. He decided to purchase a UPS franchise with his son and part-owner, Rashmin, with the intent of passing the business to him in the future. However, Navin required long-term financing to purchase the business. He discovered an SBA loan better suited his financial needs due to its lower downpayment. Navin was introduced to Patti Anderson, one of our experienced SBA Business Development Officers, through his accountant. Although this was Navin’s first SBA loan, Patti helped him through the lending process and helped him secure an SBA 7(a) loan to purchase Boxed Inc.
Here is what Navin had to say about his experience with Patti and the team at FNB Small Business Finance:
I had a great experience with Patti! She was really helpful and walked me through each step of the loan process. I would definitely recommend her to other small business owners.
Congratulations to Navin on his successful purchase of Boxed Inc.! We can’t wait to see where he takes this business in the future.
