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November 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Fort Worth, Business Loans > Compass Bank Fort Worth Business Loans > Chicken Express Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Sachse, TX Entrepreneur Gets SBA Loan to Buy Chicken Express FranchiseNeed a loan to buy a Chicken Express franchise? Compass Bank has a history of making these loans and they are guaranteed by the SBA. Chicken Express franchise loans are available to Sachse, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Compass Bank, based in Fort Worth, Texas, issued an SBA franchise loan for a Chicken Express franchise in 2002. We've got all the details on this Texas small business loan. SBA Loan Borrower CHICKEN EXPRESS SBA Loan Lender COMPASS 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 12/3/2002 Loan Approval Gross Amount $575,000 Loan Approval from the SBA Of the total $575,000 loan amount, the SBA guaranteed $431,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Chicken Express franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the funding would help generate 14 new jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $575,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Small Business Banks in Fort Worth, Texas
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