Loan to Buy Andy's Cheesesteaks & Cheeseburgers Franchise Issued By New Century Bank

Need money to buy an Andy's Cheesesteaks & Cheeseburgers franchise? New Century Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Wake Forest, North Carolina and are interested in buying an Andy's Cheesesteaks & Cheeseburgers franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by New Century Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ANDY'S CHEESESTEAKS AND CHEESE
WAKE FOREST, NC 27513

SBA Loan Lender

NEW CENTURY BANK
700 W CUMBERLAND ST
DUNN, NC 28334

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

722110 - Full-Service Restaurants

Loan Approval Date

9/29/2006

Loan Approval Gross Amount

$231,500

Loan Approval from the SBA

Of the total $231,500 loan amount, the SBA guaranteed $173,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Andy's Cheesesteaks & Cheeseburgers franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower indicated that the loan would help create 20 new jobs.

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 company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

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Where to Get an SBA Loan North Carolina