Georgia Entrepreneur Secures Financing to Buy Shane's Rib Shack Franchise

Borrowing money to invest in a Shane's Rib Shack franchise? Haven Trust Bank has a history of making these loans and they are guaranteed by the SBA.

Shane's Rib Shack franchise loans are available to Lawrenceville, Georgia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Haven Trust Bank, based in Duluth, Georgia, issued an SBA franchise loan for a Shane's Rib Shack franchise in 2006. We've got all the details on this Georgia small business loan.

SBA Loan Borrower

SHANE'S RIB SHACK SUGARLOAF S
LAWRENCEVILLE, GA 30039

SBA Loan Lender

HAVEN TRUST BANK
6340 SUGARLOAF PKWY, STE 100
DULUTH, GA 30097

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

722110 - Full-Service Restaurants

Loan Approval Date

1/4/2006

Loan Approval Gross Amount

$382,800

Loan Approval from the SBA

Of the total $382,800 loan amount, the SBA guaranteed $287,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Shane's Rib Shack franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 25 new jobs and retain 27 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Shane's Rib Shack

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SBA 7A Banks for Duluth, Georgia Loans

SBA Lenders in Georgia