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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Ak Fast Foods, LLC Loan | ||||
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Tips for Borrowing Money to Buy a Franchise
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El Campo, TX Entrepreneur Gets SBA Loan to Buy Kentucky Fried Chicken FranchiseNeed a loan to buy a Kentucky Fried Chicken franchise? U.S. Bank National Association has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Kentucky Fried Chicken franchise shouldn't be too tough. In 2000, U.S. Bank National Association issued an SBA franchise loan to an entrepreneur in El Campo, Texas. Because Kentucky Fried Chicken was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis. SBA Loan Borrower AK FAST FOODS, LLC SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 5/11/2000 Loan Approval Gross Amount $569,500 Loan Approval from the SBA Of the total $569,500 loan amount, the SBA guaranteed $427,125. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Kentucky Fried Chicken franchise. At the time of the loan, the company had 15 employees. The SBA loan documents indicated that the loan would help retain 15 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 U.S. Bank National Association 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. Related Links:
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