El Paso, TX Entrepreneur Gets SBA Loan to Buy Famous Dave's Franchise

Need a loan to invest in a Famous Dave's franchise? First Savings Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near El Paso, Texas and are interested in buying a Famous Dave's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by First Savings Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

FAMOUS DAVE'S BBQ
EL PASO, TX 79936

SBA Loan Lender

FIRST SAVINGS BANK
201 N 3RD ST
BERESFORD, SD 57004

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/5/2007

Loan Approval Gross Amount

$859,950

Loan Approval from the SBA

Of the total $859,950 loan amount, the SBA guaranteed $644,962.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Famous Dave's franchise. At the time of the loan, the company had 100 employees. The SBA loan documents indicated that the loan would help generate 12 new jobs and retain 88 existing jobs.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Famous Dave's

Determining Proper Capital Structure for a Business

SBA 7A Lenders in Beresford, South Dakota

South Dakota SBA Banks