First Chatham Bank Provides SBA Loan to Buy Beef O'Brady's Franchise

Need a loan to buy a Beef O'Brady's franchise? First Chatham Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Richmond Hill, Georgia needed money to invest in a Beef O'Brady's franchise back in 2007. First Chatham Bank issued an SBA franchise loan. Here are the details on this Georgia small business loan.

SBA Loan Borrower

BEEF O'BRADY'S
RICHMOND HILL, GA 31324

SBA Loan Lender

FIRST CHATHAM BANK
111 BARNARD ST
SAVANNAH, GA 31401

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/18/2007

Loan Approval Gross Amount

$541,000

Loan Approval from the SBA

Of the total $541,000 loan amount, the SBA guaranteed $405,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Beef O'Brady's franchise. At the time of the loan, the company had 30 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First Chatham Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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