Borrow Money to Buy a Colter's Bar-B-Q Franchise

Borrowing money to buy a Colter's Bar-B-Q franchise? Legacytexas Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Colter's Bar-B-Q franchise requires some effort but others before you have been successful. In 2001, Legacytexas Bank issued an SBA franchise loan to an entrepreneur in Hurst, Texas. Because Colter's Bar-B-Q was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

COLTER'S BAR-B-Q
HURST, TX 76053

SBA Loan Lender

LEGACYTEXAS BANK
5000 LEGACY DR
PLANO, TX 75024

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

1/18/2001

Loan Approval Gross Amount

$940,000

Loan Approval from the SBA

Of the total $940,000 loan amount, the SBA guaranteed $705,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Colter's Bar-B-Q franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 35 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $940,000 loan. Remember, fight for what you want, and it will be yours!

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:

VC Firms on Twitter

Banks in Plano, Texas

Getting an SBA Loan in Texas