Borrow Money to Buy a Zyng Noodlery Franchise

Need a loan to buy a Zyng Noodlery franchise? Crescent Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Zyng Noodlery franchise may simply require a phone call to a local SBA banker. In 2004, Crescent Bank & Trust issued an SBA franchise loan to an entrepreneur in Atlanta, Georgia. Because Zyng Noodlery was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis.

SBA Loan Borrower

ZYNG ASIAN GRILL
ATLANTA, GA 30327

SBA Loan Lender

CRESCENT BANK & TRUST
7 CARING WAY
JASPER, GA 30143

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

722110 - Full-Service Restaurants

Loan Approval Date

9/1/2004

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Zyng Noodlery franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 7 new jobs and retain 120 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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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