United Community Bank Provides SBA Loan to Buy Church's Fried Chicken Franchise

Need money to buy a Church's Fried Chicken franchise? United Community Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Church's Fried Chicken franchise? If so, here's a 2006 SBA franchise loan that you should know about. United Community Bank was the lender and the entrepreneur was based in Charlotte, North Carolina.

SBA Loan Borrower

P & M BUSINESS INVESTMENTS, INC.
CHARLOTTE, NC 28202

SBA Loan Lender

UNITED COMMUNITY BANK
59 HWY 515
BLAIRSVILLE, GA 30514

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/26/2006

Loan Approval Gross Amount

$448,200

Loan Approval from the SBA

Of the total $448,200 loan amount, the SBA guaranteed $336,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Church's Fried Chicken franchise. At the time of the loan, the company had no employees. The SBA loan documents indicated that the loan would help generate 30 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into United Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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