Loan to Buy Church's Fried Chicken Franchise Issued By Wachovia Bank

Need money to invest in a Church's Fried Chicken franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Atlanta, Georgia needed money to invest in a Church's Fried Chicken franchise back in 2000. Wachovia Bank issued an SBA franchise loan. Here are the details on this Georgia small business loan.

SBA Loan Borrower

CHURCH'S FRIED CHICKEN
ATLANTA, GA 30323

SBA Loan Lender

WACHOVIA BANK
420 N 20TH ST
BIRMINGHAM, AL 35203

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/6/2000

Loan Approval Gross Amount

$356,800

Loan Approval from the SBA

Of the total $356,800 loan amount, the SBA guaranteed $267,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Church's Fried Chicken franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 9 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

If you need money to start business in Atlanta GA, you ought to talk with a local Atlanta SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Atlanta businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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