Georgia Entrepreneur Secures Financing to Buy Philly Connection Franchise

Need money to purchase a Philly Connection franchise? Rbc Centura Bank has a history of making these loans and they are guaranteed by the SBA.

Philly Connection franchise loans are available to Cumming, Georgia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Rbc Centura Bank, based in Atlanta, Georgia, issued an SBA franchise loan for a Philly Connection franchise in 2001. We've got all the details on this Georgia small business loan.

SBA Loan Borrower

PHILLY CONNECTION
CUMMING, GA 30041

SBA Loan Lender

RBC CENTURA BANK
3475 PIEDMONT RD NE, STE 550
ATLANTA, GA 30305

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

2/16/2001

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Philly Connection franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees.

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

If you need business start up money in Cumming GA, you ought to talk with a local Cumming SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cumming businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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