Loan to Buy Long John Silver's Franchise Issued By First National Bank - So. D/b/a 1st

Need a loan to invest in a Long John Silver's franchise? First National Bank - So. D/b/a 1st has a history of making these loans and they are guaranteed by the SBA.

Long John Silver's franchise loans are available to Simpsonville, South Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First National Bank - So. D/b/a 1st, based in Spartanburg, South Carolina, issued an SBA franchise loan for a Long John Silver's franchise in 2006. We've got all the details on this South Carolina small business loan.

SBA Loan Borrower

LONG JOHN SILVER'S AND A&W RES
SIMPSONVILLE, SC 29681

SBA Loan Lender

FIRST NATIONAL BANK - SO. D/B/A 1ST
215 N PINE ST
SPARTANBURG, SC 29302

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/31/2006

Loan Approval Gross Amount

$1,900,000

Loan Approval from the SBA

Of the total $1,900,000 loan amount, the SBA guaranteed $1,425,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Long John Silver's franchise. At the time of the loan, the company had 200 employees. The SBA loan application for the borrower indicated that the loan would help retain 200 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Long John Silver's Restaurants, Inc.

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Banks in Spartanburg, South Carolina

Find an SBA Lender in South Carolina