Texas Entrepreneur Secures Financing to Buy Chicken Express Franchise

Need money to purchase a Chicken Express franchise? Colonial Savings, F.A. has a history of making these loans and they are guaranteed by the SBA.

If you live near Benbrook, Texas and are interested in buying a Chicken Express franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2008 by Colonial Savings, F.A.. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

CHICKEN EXPRESS
BENBROOK, TX 76116

SBA Loan Lender

COLONIAL SAVINGS, F.A.
2600 WEST FRWY
FORT WORTH, TX 76102

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/8/2008

Loan Approval Gross Amount

$1,132,500

Loan Approval from the SBA

Of the total $1,132,500 loan amount, the SBA guaranteed $849,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Chicken Express franchise. At the time of the loan, the company had 30 employees. This SBA loan request indicated that the loan would help generate 14 new jobs and retain 16 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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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