Haven Trust Bank Provides SBA Loan to Buy Shane's Rib Shack Franchise

Borrowing money to invest in a Shane's Rib Shack franchise? Haven Trust Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Greensboro, North Carolina and are interested in buying a Shane's Rib Shack franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Haven Trust Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SHANE'S RIB SHACK
GREENSBORO, NC 27407

SBA Loan Lender

HAVEN TRUST BANK
6340 SUGARLOAF PKWY, STE 100
DULUTH, GA 30097

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/15/2005

Loan Approval Gross Amount

$390,000

Loan Approval from the SBA

Of the total $390,000 loan amount, the SBA guaranteed $292,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Shane's Rib Shack franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 27 new jobs and retain 1 existing job.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to borrow money from friends and family, 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:

Shane's Rib Shack

Debt Financing

Small Business Banks in Duluth, Georgia

SBA Georgia Banks