Texas Entrepreneur Secures Financing to Buy Fish City Grill Franchise

Borrowing money to invest in a Fish City Grill franchise? Fidelity Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Westlake, Texas and are interested in buying a Fish City Grill franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Fidelity Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

FISH CITY GRILL
WESTLAKE, TX 76262

SBA Loan Lender

FIDELITY BANK
5049 W PARK BLVD
PLANO, TX 75093

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/5/2005

Loan Approval Gross Amount

$320,000

Loan Approval from the SBA

Of the total $320,000 loan amount, the SBA guaranteed $240,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fish City Grill franchise. At the time of the loan, the company had 80 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Fidelity 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:

Fish City Grill

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Find an SBA Lender in Plano, Texas

Texas SBA Banks