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May 2, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Chaska, Business Loans > Community Bank Corporation Chaska Business Loans > Wood Family Foods Inc Loan | ||||
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SBA 7A Banks for Chaska Small Business Owners
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Chaska, MN Entrepreneur Gets SBA Loan to Buy Kentucky Fried Chicken FranchiseNeed a loan to invest in a Kentucky Fried Chicken franchise? Community Bank Corporation has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Chaska, Minnesota needed money to invest in a Kentucky Fried Chicken franchise back in 2007. Community Bank Corporation issued an SBA franchise loan. Here are the details on this Minnesota small business loan. SBA Loan Borrower WOOD FAMILY FOODS INC SBA Loan Lender COMMUNITY BANK CORPORATION This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/11/2007 Loan Approval Gross Amount $26,300 Loan Approval from the SBA Of the total $26,300 loan amount, the SBA guaranteed $13,150. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Kentucky Fried Chicken franchise. At the time of the loan, the company had 25 employees. This SBA loan request indicated that the loan would help retain 25 existing jobs. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship Find an SBA Lender in Chaska, Minnesota Getting an SBA Loan in Minnesota
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