Virginia Entrepreneur Secures Financing to Buy Popeye's Famous Fried Chicken Franchise

Borrowing money to buy a Popeye's Famous Fried Chicken franchise? Millennium Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Popeye's Famous Fried Chicken franchise? If so, here's a 2005 SBA franchise loan that you should know about. Millennium Bank was the lender and the entrepreneur was based in Chantilly, Virginia.

SBA Loan Borrower

POPEYE'S FRIED CHICKEN&BISCUIT
CHANTILLY, VA 20152

SBA Loan Lender

MILLENNIUM BANK
1601 WASHINGTON PLZ
RESTON, VA 20190

This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/15/2005

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Popeye's Famous Fried Chicken franchise. At the time of the loan, the company had 23 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

Related Links:

Popeyes Chicken & Biscuits

How Equity Dilution Works

SBA 7A Banks for Reston, Virginia Loans

Virginia SBA Banks