Loan to Buy Loco's Deli & Pub Franchise Issued By First Chatham Bank

Borrowing money to purchase a Loco's Deli & Pub franchise? First Chatham Bank has a history of making these loans and they are guaranteed by the SBA.

Loco's Deli & Pub franchise loans are available to Savannah, Georgia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Chatham Bank, based in Savannah, Georgia, issued an SBA franchise loan for a Loco's Deli & Pub franchise in 2005. We've got all the details on this Georgia small business loan.

SBA Loan Borrower

LOCO'S DELI AND PUP
SAVANNAH, GA 31419

SBA Loan Lender

FIRST CHATHAM BANK
111 BARNARD ST
SAVANNAH, GA 31401

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/20/2005

Loan Approval Gross Amount

$850,000

Loan Approval from the SBA

Of the total $850,000 loan amount, the SBA guaranteed $637,500.

More Information on This SBA Loan

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

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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