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November 14, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Gulfport, Business Loans > Hancock Bank Gulfport Business Loans > Beta, LLC Loan | ||||
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Business Loans for Gulf Shores Businesses
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Hancock Bank Provides SBA Loan to Buy Tcby FranchiseNeed a loan to invest in a Tcby franchise? Hancock Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Gulf Shores, Alabama needed money to invest in a Tcby franchise back in 2007. Hancock Bank issued an SBA franchise loan. Here are the details on this Alabama small business loan. SBA Loan Borrower BETA, LLC SBA Loan Lender HANCOCK BANK This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 311520 - Ice Cream and Frozen Dessert Manufacturing Loan Approval Date 8/13/2007 Loan Approval Gross Amount $290,000 Loan Approval from the SBA Of the total $290,000 loan amount, the SBA guaranteed $145,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Tcby franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 10 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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. Related Links: Small Business Banks in Gulfport, Mississippi
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