Loan to Buy Western Sizzlin Steak House Franchise Issued By First Community Bank

Need a loan to invest in a Western Sizzlin Steak House franchise? First Community Bank has a history of making these loans and they are guaranteed by the SBA.

Western Sizzlin Steak House franchise loans are available to Batesville, Arkansas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Community Bank, based in Batesville, Arkansas, issued an SBA franchise loan for a Western Sizzlin Steak House franchise in 2001. We've got all the details on this Arkansas small business loan.

SBA Loan Borrower

WESTERN SIZZLIN
BATESVILLE, AR 72501

SBA Loan Lender

FIRST COMMUNITY BANK
1325 HARRISON ST
BATESVILLE, AR 72501

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/19/2001

Loan Approval Gross Amount

$684,000

Loan Approval from the SBA

Of the total $684,000 loan amount, the SBA guaranteed $513,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Western Sizzlin Steak House franchise. At the time of the loan, the company had 43 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Community Bank 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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