Borrow Money to Buy a Five Guys Famous Burgers And Fries Franchise

Borrowing money to purchase a Five Guys Famous Burgers And Fries franchise? Cit Small Business Lending Corp 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 Kill Devil Hills, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for a Five Guys Famous Burgers And Fries franchise in 2008. We've got all the details on this North Carolina small business loan.

SBA Loan Borrower

FIVE GUYS BURGERS AND FRIES
KILL DEVIL HILLS, NC 27948

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/3/2008

Loan Approval Gross Amount

$380,000

Loan Approval from the SBA

Of the total $380,000 loan amount, the SBA guaranteed $285,000.

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 25 employees. This SBA loan request indicated that the funding would help generate 25 new jobs.

Next Steps for Getting an SBA Loan

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

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

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SBA Banks in Livingston, New Jersey

Getting an SBA Loan in New Jersey