First National Bank South Provides SBA Loan to Buy Huddle House Franchise

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

An entrepreneur in Woodbine, Georgia needed money to invest in a Huddle House franchise back in 2002. First National Bank South issued an SBA franchise loan. Here are the details on this Georgia small business loan.

SBA Loan Borrower

HUDDLE HOUSE RESTAURANT
WOODBINE, GA 31569

SBA Loan Lender

FIRST NATIONAL BANK SOUTH
423 W 12TH ST
ALMA, GA 31510

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/16/2002

Loan Approval Gross Amount

$347,000

Loan Approval from the SBA

Of the total $347,000 loan amount, the SBA guaranteed $260,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Huddle House franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank South had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank South made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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