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May 5, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Covington, Business Loans > Branch Bank & Trust Covington Business Loans > Moe's Southwestern Grill Loan | ||||
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Business Loans for Kennesaw Small Business Owners
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Loan to Buy Moe's Sw Grill Franchise Issued By Branch Bank & TrustBorrowing money to invest in a Moe's Sw Grill franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Moe's Sw Grill franchise requires some effort but others before you have been successful. In 2004, Branch Bank & Trust issued an SBA franchise loan to an entrepreneur in Kennesaw, Georgia. Because Moe's Sw Grill was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis. SBA Loan Borrower MOE'S SOUTHWESTERN GRILL SBA Loan Lender BRANCH BANK & TRUST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/14/2004 Loan Approval Gross Amount $243,000 Loan Approval from the SBA Of the total $243,000 loan amount, the SBA guaranteed $182,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Moe's Sw Grill franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: SBA 7A Lenders in Covington, Georgia
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