Jonesboro, GA Entrepreneur Gets SBA Loan to Buy Plato's Closet Franchise
Need a loan to buy a Plato's Closet franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Plato's Closet franchise? If so, here's a 2001 SBA franchise loan that you should know about. Branch Bank & Trust was the lender and the entrepreneur was based in Jonesboro, Georgia.
SBA Loan Borrower
PLATOS CLOSET
JONESBORO, GA 30236
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
448130 - Children's and Infants' Clothing Stores
Loan Approval Date
6/29/2001
Loan Approval Gross Amount
$105,000
Loan Approval from the SBA
Of the total $105,000 loan amount, the SBA guaranteed $89,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Plato's Closet franchise. At the time of the loan, the company
had 2 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.
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.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Branch Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Branch Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
Plato's Closet
VC Firms on Twitter
SBA 7A Banks for Winston Salem, North Carolina Loans
SBA Lenders in North Carolina