Georgia Entrepreneur Secures Financing to Buy Larry's Giant Subs Franchise

Borrowing money to buy a Larry's Giant Subs franchise? Suntrust Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Larry's Giant Subs franchise? If so, here's a 2000 SBA franchise loan that you should know about. Suntrust Bank was the lender and the entrepreneur was based in Dublin, Georgia.

SBA Loan Borrower

CAMILLE & ASSOCIATES, INC
DUBLIN, GA 31021

SBA Loan Lender

SUNTRUST BANK
2203 DEMERE RD
SAINT SIMONS ISLAND, GA 31522

This lender issued this SBA small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

9/7/2000

Loan Approval Gross Amount

$101,020

Loan Approval from the SBA

Of the total $101,020 loan amount, the SBA guaranteed $75,765.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Larry's Giant Subs franchise. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the loan would help generate 20 new jobs and retain 20 existing jobs.

Getting an SBA Loan For Your Business

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Larry's Giant Subs

Accountant's Role in Securing Financing

SBA Approved Banks in Saint Simons Island, Georgia

Georgia SBA Banks