Borrow Money to Buy a Back Yard Burgers Franchise
Need a loan to invest in a Back Yard Burgers franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Back Yard Burgers franchise? If so, here's a 2006 SBA franchise loan that you should know about. Community So. Bank D.B.A Commun was the lender and the entrepreneur was based in Chesapeake, Virginia.
SBA Loan Borrower
BACK YARD BURGERS
CHESAPEAKE, VA 23321
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
2/13/2006
Loan Approval Gross Amount
$1,200,000
Loan Approval from the SBA
Of the total $1,200,000 loan amount, the SBA guaranteed $900,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Back Yard Burgers franchise. At the time of the loan, the company
had 2 employees. This SBA loan request indicated that the borrowed money would help create 45 new jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans provide money to small business owners for working capital for other expenses.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community So. Bank D.B.A Commun that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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.
Debt Financing
Best Banks for Small Business in Parsons, Tennessee
Tennessee SBA Banks