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November 15, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Truckee, Business Loans > Bank Of The West Truckee Business Loans > Nirvana Gourmet Inc & Shalini Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Mcdonough, GA Entrepreneur Gets SBA Loan to Buy Tcby FranchiseNeed a loan to buy a Tcby franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Tcby franchise may simply require a phone call to a local SBA banker. In 2001, Bank Of The West issued an SBA franchise loan to an entrepreneur in Mcdonough, Georgia. Because Tcby was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis. SBA Loan Borrower NIRVANA GOURMET INC & SHALINI SBA Loan Lender BANK OF THE WEST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722212 - Cafeterias, Grill Buffets, and Buffets Loan Approval Date 12/20/2001 Loan Approval Gross Amount $316,000 Loan Approval from the SBA Of the total $316,000 loan amount, the SBA guaranteed $237,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Tcby franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 15 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Best Banks in Truckee, California
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