Bardstown, KY Entrepreneur Gets SBA Loan to Buy Huddle House Franchise

Need a loan to purchase a Huddle House franchise? Wilson & Muir Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bardstown, Kentucky needed money to invest in a Huddle House franchise back in 2004. Wilson & Muir Bank & Trust issued an SBA franchise loan. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

HUDDLE HOUSE
BARDSTOWN, KY 40004

SBA Loan Lender

WILSON & MUIR BANK & TRUST
107 N 3RD ST
BARDSTOWN, KY 40004

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/19/2004

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Huddle House franchise. At the time of the loan, the company had 30 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wilson & Muir Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wilson & Muir Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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