New Jersey Entrepreneur Secures Financing to Buy Kentucky Fried Chicken Franchise

Need money to purchase a Kentucky Fried Chicken franchise? Pennstar Bank, A Division Of has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Kentucky Fried Chicken franchise may simply require a phone call to a local SBA banker. In 2004, Pennstar Bank, A Division Of issued an SBA franchise loan to an entrepreneur in Newton, New Jersey. Because Kentucky Fried Chicken was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

HAMLIN KFC, INC.
NEWTON, NJ 07860

SBA Loan Lender

PENNSTAR BANK, A DIVISION OF
117 MEADOW AVE
SCRANTON, PA 18505

This lender issued this commercial loan under the SBA's 7A loan, 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.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/18/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $90,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Kentucky Fried Chicken franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

KFC Corporation

Business Incubators

SBA Banks in Scranton, Pennsylvania

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