Community W. Bank Provides SBA Loan to Buy Philly Connection Franchise

Need money to invest in a Philly Connection franchise? Community W. Bank has a history of making these loans and they are guaranteed by the SBA.

Philly Connection franchise loans are available to Macon, Georgia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Community W. Bank, based in Woodstock, Georgia, issued an SBA franchise loan for a Philly Connection franchise in 2001. We've got all the details on this Georgia small business loan.

SBA Loan Borrower

PHILLY CONNECTION (THE)
MACON, GA 31204

SBA Loan Lender

COMMUNITY W. BANK
665 MOLLY LN, STE 110
WOODSTOCK, GA 30189

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/5/2001

Loan Approval Gross Amount

$149,300

Loan Approval from the SBA

Of the total $149,300 loan amount, the SBA guaranteed $126,905.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Philly Connection franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

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