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December 22, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > West Valley City, Business Loans > Zions First National Bank West Valley City Business Loans > Western Sizzlin Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Borrow Money to Buy a Western Sizzlin Steak House FranchiseNeed money to buy a Western Sizzlin Steak House franchise? Zions First National Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Memphis, Tennessee and are interested in buying a Western Sizzlin Steak House franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Zions First National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower WESTERN SIZZLIN SBA Loan Lender ZIONS FIRST NATIONAL BANK This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/13/2000 Loan Approval Gross Amount $181,000 Loan Approval from the SBA Of the total $181,000 loan amount, the SBA guaranteed $135,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Western Sizzlin Steak House franchise. At the time of the loan, the company had 17 employees. This SBA loan request indicated that the loan would help retain 14 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. 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. Related Links: Dealing With Venture Capitalists SBA Participating Banks in West Valley City, Utah
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