Loan to Buy Shane's Rib Shack Franchise Issued By Peoples Bank

Need a loan to purchase a Shane's Rib Shack franchise? Peoples Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mt. Washington, Kentucky needed money to invest in a Shane's Rib Shack franchise back in 2007. Peoples Bank issued an SBA franchise loan. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

SHANE'S RIB SHACK
MT. WASHINGTON, KY 40047

SBA Loan Lender

PEOPLES BANK
201 N BARDSTOWN RD
MOUNT WASHINGTON, KY 40047

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/6/2007

Loan Approval Gross Amount

$318,750

Loan Approval from the SBA

Of the total $318,750 loan amount, the SBA guaranteed $239,062.

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 25 employees. The SBA loan application for the borrower indicated that the loan would help generate 23 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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

Accountant's Role in Securing Financing

Small Bank Loans in Mount Washington, Kentucky

Getting a Business Loan in Kentucky