Citicapital Small Business Finance Provides SBA Loan to Buy Grandy's Franchise

Borrowing money to purchase a Grandy's franchise? Citicapital Small Business Finance has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Grandy's franchise? If so, here's a 2000 SBA franchise loan that you should know about. Citicapital Small Business Finance was the lender and the entrepreneur was based in Keller, Texas.

SBA Loan Borrower

GRANDY'S COLLINS
KELLER, TX 76248

SBA Loan Lender

CITICAPITAL SMALL BUSINESS FINANCE
250 E CARPENTER FRWY, STE 115
IRVING, TX 75062

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.

SIC Code

5812 - Eating Places

Loan Approval Date

7/28/2000

Loan Approval Gross Amount

$131,000

Loan Approval from the SBA

Of the total $131,000 loan amount, the SBA guaranteed $98,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Grandy's franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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:

Grandy's, Inc.

Dealing With Venture Capitalists

Who Lends Money to Small Businesses in Irving, Texas

Find an SBA Lender in Texas