Lexington, NC Entrepreneur Gets SBA Loan to Buy Kohl's Frozen Custard & Jumbo Burger Franchise

Need money to buy a Kohl's Frozen Custard & Jumbo Burger franchise? First Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Kohl's Frozen Custard & Jumbo Burger franchise? If so, here's a 2003 SBA franchise loan that you should know about. First Bank was the lender and the entrepreneur was based in Lexington, North Carolina.

SBA Loan Borrower

KOHL'S FROZEN CUSTARD
LEXINGTON, NC 27295

SBA Loan Lender

FIRST BANK
1200 N MAIN ST
HIGH POINT, NC 27262

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/8/2003

Loan Approval Gross Amount

$127,500

Loan Approval from the SBA

Of the total $127,500 loan amount, the SBA guaranteed $95,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Kohl's Frozen Custard & Jumbo Burger franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $127,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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