Peachtree City, GA Entrepreneur Gets SBA Loan to Buy Shane's Rib Shack Franchise

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

Getting money to buy a Shane's Rib Shack franchise shouldn't be too tough. In 2007, Haven Trust Bank issued an SBA franchise loan to an entrepreneur in Peachtree City, Georgia. Because Shane's Rib Shack was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis.

SBA Loan Borrower

SHANE'S PEACHTREE CITY,LLC
PEACHTREE CITY, GA 30269

SBA Loan Lender

HAVEN TRUST BANK
6340 SUGARLOAF PKWY, STE 100
DULUTH, GA 30097

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/2/2007

Loan Approval Gross Amount

$322,500

Loan Approval from the SBA

Of the total $322,500 loan amount, the SBA guaranteed $241,875.

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 30 employees. The SBA loan application for the borrower indicated that the loan would help generate 30 new jobs and retain 30 existing jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Haven Trust Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Angel Investors

SBA 7A Lenders in Duluth, Georgia

Getting an SBA Loan in Georgia