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April 19, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Knoxville, Business Loans > Community So. Bank D.B.A Commun Knoxville Business Loans > Smith Steak N Shake, LLC Loan | ||||
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How Much Does It Cost to Buy a Franchise in Prattville, Alabama?
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Alabama Entrepreneur Secures Financing to Buy Steak N Shake FranchiseNeed a loan to purchase a Steak N Shake franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Steak N Shake franchise? If so, here's a 2007 SBA franchise loan that you should know about. Community So. Bank D.B.A Commun was the lender and the entrepreneur was based in Prattville, Alabama. SBA Loan Borrower SMITH STEAK N SHAKE, LLC SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/25/2007 Loan Approval Gross Amount $1,017,000 Loan Approval from the SBA Of the total $1,017,000 loan amount, the SBA guaranteed $762,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Steak N Shake franchise. At the time of the loan, the company had 37 employees. The SBA loan documents indicated that the loan would help retain 37 existing jobs. 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,017,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Realistic Debt Financing Options Best Knoxville, Tennessee Banks for Small Business Browse All Business Loan Sources for Tennessee
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