Highland Commercial Bank Provides SBA Loan to Buy Jersey Mike's deli Restaurant Franchise

Need money to buy a Jersey Mike's deli Restaurant franchise? Highland Commercial Bank has a history of making these loans and they are guaranteed by the SBA.

Jersey Mike's deli Restaurant franchise loans are available to Peachtree City, Georgia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Highland Commercial Bank, based in Marietta, Georgia, issued an SBA franchise loan for a Jersey Mike's deli Restaurant franchise in 2005. We've got all the details on this Georgia small business loan.

SBA Loan Borrower

JERSEY MIKE'S SUB
PEACHTREE CITY, GA 30269

SBA Loan Lender

HIGHLAND COMMERCIAL BANK
3411 ERNEST BARRETT PKWY
MARIETTA, GA 30064

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/19/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Jersey Mike's deli Restaurant franchise. At the time of the loan, the company had 20 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.

Great, But How Can I Get an SBA Loan for My Business?

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

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:

Jersey Mike's Submarines & Salads

Small Business Loan

Where to Get an SBA Loan in Marietta, Georgia

Georgia SBA Banks