Florida Entrepreneur Secures Financing to Buy Charley's Grilled Subs Franchise

Need a loan to purchase a Charley's Grilled Subs franchise? Community W. Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Saint Petersburg, Florida and are interested in buying a Charley's Grilled Subs franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Community W. Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

CHARLEY'S GRILLED SUBS
SAINT PETERSBURG, FL 33710

SBA Loan Lender

COMMUNITY W. BANK
5827 HOLLISTER AVE
GOLETA, CA 93117

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/15/2004

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 a new business. This loan was used to buy a Charley's Grilled Subs franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 9 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Charley's Grilled Subs

Business Cash Advances

Best Banks for Small Business in Goleta, California

SBA California Banks