Borrow Money to Buy a Back Yard Burgers Franchise

Need a loan to buy a Back Yard Burgers franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Chattanooga, Tennessee needed money to invest in a Back Yard Burgers franchise back in 2004. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

BACK YARD BURGER
CHATTANOOGA, TN 37416

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This SBA loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/7/2004

Loan Approval Gross Amount

$293,500

Loan Approval from the SBA

Of the total $293,500 loan amount, the SBA guaranteed $220,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Back Yard Burgers franchise. At the time of the loan, the company had 25 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Chattanooga TN, you ought to talk with a local Chattanooga SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chattanooga businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Back Yard Burgers, Inc.

A Company That Helps Entrepreneurs

Small Business Banks in Livingston, New Jersey

SBA New Jersey Lenders