Taylorsville, MS Entrepreneur Gets SBA Loan to Buy Huddle House Franchise

Need a loan to buy a Huddle House franchise? Peoples Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Taylorsville, Mississippi and are interested in buying a Huddle House franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Peoples Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

HUDDLE HOUSE
TAYLORSVILLE, MS 39168

SBA Loan Lender

PEOPLES BANK
611 5TH AVE
MAGEE, MS 39111

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/26/2007

Loan Approval Gross Amount

$586,750

Loan Approval from the SBA

Of the total $586,750 loan amount, the SBA guaranteed $440,062.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Huddle House franchise. At the time of the loan, the company had 25 employees. The loan application indicated that the borrowed money would help generate 25 new jobs.

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

Remember, you 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.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Peoples Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Huddle House, Inc.

Raising Venture Capital

Good Banks for Small Business in Magee, Mississippi

Browse All Business Loan Sources for Mississippi