Loan to Buy Five Guys Famous Burgers And Fries Franchise Issued By Enterprise Bank

Need a loan to buy a Five Guys Famous Burgers And Fries franchise? Enterprise Bank has a history of making these loans and they are guaranteed by the SBA.

Five Guys Famous Burgers And Fries franchise loans are available to Bethel Park, Pennsylvania entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Enterprise Bank, based in Allison Park, Pennsylvania, issued an SBA franchise loan for a Five Guys Famous Burgers And Fries franchise in 2005. We've got all the details on this Pennsylvania small business loan.

SBA Loan Borrower

FIVE GUYS FAMOUS BURGERS AND F
BETHEL PARK, PA 15102

SBA Loan Lender

ENTERPRISE BANK
4091 MOUNT ROYAL BLVD
ALLISON PARK, PA 15101

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/24/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Five Guys Famous Burgers And Fries franchise. At the time of the loan, the company had 15 employees. The loan application indicated that the borrowed money would help create 15 new jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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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