Charleston, SC Entrepreneur Gets SBA Loan to Buy Horn & Hardart Bakery Cafe Franchise

Need a loan to purchase a Horn & Hardart Bakery Cafe franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA.

Horn & Hardart Bakery Cafe franchise loans are available to Charleston, South Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wachovia Bank, based in Winston Salem, North Carolina, issued an SBA franchise loan for a Horn & Hardart Bakery Cafe franchise in 2002. We've got all the details on this South Carolina small business loan.

SBA Loan Borrower

HORN & HARDART CAFE
CHARLESTON, SC 29401

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/12/2002

Loan Approval Gross Amount

$123,100

Loan Approval from the SBA

Of the total $123,100 loan amount, the SBA guaranteed $61,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Horn & Hardart Bakery Cafe franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

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.

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