North Carolina Entrepreneur Secures Financing to Buy Back Yard Burgers Franchise

Need a loan to invest in a Back Yard Burgers franchise? Textron Business Credit, Inc. has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Back Yard Burgers franchise may simply require a phone call to a local SBA banker. In 2001, Textron Business Credit, Inc. issued an SBA franchise loan to an entrepreneur in Raleigh, North Carolina. Because Back Yard Burgers was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

BACK YARD BURGERS
RALEIGH, NC 27613

SBA Loan Lender

TEXTRON BUSINESS CREDIT, INC.
40 WESTMINISTER ST
PROVIDENCE, RI 02903

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

4/24/2001

Loan Approval Gross Amount

$667,800

Loan Approval from the SBA

Of the total $667,800 loan amount, the SBA guaranteed $500,850.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Back Yard Burgers franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 20 existing jobs.

Next Steps for Getting an SBA Loan

Remember, 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $667,800 loan. Remember, where there is a will, there is a way!

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:

Back Yard Burgers, Inc.

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