Borrow Money to Buy a Shoney's Restaurant Franchise

Need money to invest in a Shoney's Restaurant franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Shoney's Restaurant franchise is doable. In 2004, Comerica Bank issued an SBA franchise loan to an entrepreneur in Lavonia, Georgia. Because Shoney's Restaurant was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis.

SBA Loan Borrower

SHONEY'S
LAVONIA, GA 30553

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and are well trained in SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/9/2004

Loan Approval Gross Amount

$285,000

Loan Approval from the SBA

Of the total $285,000 loan amount, the SBA guaranteed $213,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Shoney's Restaurant franchise. At the time of the loan, the company had 90 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Comerica Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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