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November 14, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Goleta, Business Loans > Community W. Bank Goleta Business Loans > Firehouse Subs Loan | ||||
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SBA Franchise Lenders in Georgia
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Georgia Entrepreneur Secures Financing to Buy Firehouse Subs FranchiseNeed money to invest in a Firehouse Subs franchise? Community W. Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Roswell, Georgia needed money to invest in a Firehouse Subs franchise back in 2004. Community W. Bank issued an SBA franchise loan. Here are the details on this Georgia small business loan. SBA Loan Borrower FIREHOUSE SUBS SBA Loan Lender COMMUNITY W. BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/29/2004 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 Firehouse Subs franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the funding would help generate 13 new jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to 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. 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 Community W. 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: SBA 7A Banks for Goleta, California Loans
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