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May 1, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Atlanta, Business Loans > Capitol City Bank & Trust Atlanta Business Loans > Backyard Burgers Loan | ||||
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Where Can I Find Franchise Loans in Savannah, Georgia?
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Georgia Entrepreneur Secures Financing to Buy Back Yard Burgers FranchiseBorrowing money to invest in a Back Yard Burgers franchise? Capitol City Bank & Trust has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Back Yard Burgers franchise may simply require a phone call to a local SBA banker. In 2007, Capitol City Bank & Trust issued an SBA franchise loan to an entrepreneur in Savannah, Georgia. Because Back Yard Burgers was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis. SBA Loan Borrower BACKYARD BURGERS SBA Loan Lender CAPITOL CITY BANK & TRUST The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/20/2007 Loan Approval Gross Amount $303,900 Loan Approval from the SBA Of the total $303,900 loan amount, the SBA guaranteed $227,925. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Back Yard Burgers franchise. At the time of the loan, the company had 22 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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: Best Atlanta, Georgia Banks for Small Business
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