Hinesville, GA Entrepreneur Gets SBA Loan to Buy Larry's Giant Subs Franchise

Borrowing money to purchase a Larry's Giant Subs franchise? The Heritage Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Hinesville, Georgia and are interested in buying a Larry's Giant Subs franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by The Heritage Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

LARRY'S GIANT SUBS
HINESVILLE, GA 31513

SBA Loan Lender

THE HERITAGE BANK
292 S MACON ST
JESUP, GA 31545

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

3/20/2000

Loan Approval Gross Amount

$112,000

Loan Approval from the SBA

Of the total $112,000 loan amount, the SBA guaranteed $84,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Larry's Giant Subs franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

Larry's Giant Subs

Business Incubators

Small Business Banks in Jesup, Georgia

Getting a Business Loan in Georgia