Hanover, MD Entrepreneur Gets SBA Loan to Buy Five Guys Famous Burgers And Fries Franchise

Need money to purchase a Five Guys Famous Burgers And Fries franchise? Commercefirst Bank has a history of making these loans and they are guaranteed by the SBA.

Five Guys Famous Burgers And Fries franchise loans are available to Hanover, Maryland entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Commercefirst Bank, based in Annapolis, Maryland, issued an SBA franchise loan for a Five Guys Famous Burgers And Fries franchise in 2007. We've got all the details on this Maryland small business loan.

SBA Loan Borrower

5 GUYS BURGERS
HANOVER, MD 21076

SBA Loan Lender

COMMERCEFIRST BANK
1804 WEST ST, STE 200
ANNAPOLIS, MD 21401

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/28/2007

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Five Guys Famous Burgers And Fries franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 35 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commercefirst Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Five Guys Famous Burgers and Fries

Alternative Financing

SBA Approved Banks in Annapolis, Maryland

Maryland SBA 7A Lenders