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December 22, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Shane's Rib Shack Loan | ||||
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Tallahassee, Florida Bank for SBA Loans
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Tallahassee, FL Entrepreneur Gets SBA Loan to Buy Shane's Rib Shack FranchiseBorrowing money to buy a Shane's Rib Shack franchise? Small Business Loan Source LLC has a history of making these loans and they are guaranteed by the SBA. Shane's Rib Shack franchise loans are available to Tallahassee, Florida entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Small Business Loan Source LLC, based in Houston, Texas, issued an SBA franchise loan for a Shane's Rib Shack franchise in 2007. We've got all the details on this Florida small business loan. SBA Loan Borrower SHANE'S RIB SHACK SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC 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 4/16/2007 Loan Approval Gross Amount $384,000 Loan Approval from the SBA Of the total $384,000 loan amount, the SBA guaranteed $288,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Shane's Rib Shack franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 23 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: Small Bank Loans in Houston, Texas
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