Savannah, GA Entrepreneur Gets SBA Loan to Buy Loco's Deli & Pub Franchise

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

An entrepreneur in Savannah, Georgia needed money to invest in a Loco's Deli & Pub franchise back in 2002. First Chatham Bank issued an SBA franchise loan. Here are the details on this Georgia small business loan.

SBA Loan Borrower

LOCOS DELI
SAVANNAH, GA 31401

SBA Loan Lender

FIRST CHATHAM BANK
111 BARNARD ST
SAVANNAH, GA 31401

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/6/2002

Loan Approval Gross Amount

$475,000

Loan Approval from the SBA

Of the total $475,000 loan amount, the SBA guaranteed $356,250.

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 50 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Locos Grill and Pub

Financing Your Business

Good Banks for Small Business in Savannah, Georgia

Getting an SBA Loan in Georgia