Loan to Buy Andy's Cheesesteaks & Cheeseburgers Franchise Issued By New Century Bank

Borrowing money to buy an Andy's Cheesesteaks & Cheeseburgers franchise? New Century Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Pembroke, North Carolina and are interested in buying an Andy's Cheesesteaks & Cheeseburgers franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by New Century Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ANDY'S CHEESESTEAKS AND CHEESE
PEMBROKE, NC 28372

SBA Loan Lender

NEW CENTURY BANK
700 W CUMBERLAND ST
DUNN, NC 28334

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/22/2006

Loan Approval Gross Amount

$165,000

Loan Approval from the SBA

Of the total $165,000 loan amount, the SBA guaranteed $123,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Andy's Cheesesteaks & Cheeseburgers franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 20 new jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Dunn, North Carolina

SBA North Carolina Banks