Texas Entrepreneur Secures Financing to Buy Church's Fried Chicken Franchise

Need money to buy a Church's Fried Chicken franchise? South Valley National Bank A Divis has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Church's Fried Chicken franchise shouldn't be too tough. In 2006, South Valley National Bank A Divis issued an SBA franchise loan to an entrepreneur in Waxahachie, Texas. Because Church's Fried Chicken was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

FAZAL KHALIQ AND BF ZAK ENTERPRISES INC.,
Waxahachie, TX 75165

SBA Loan Lender

SOUTH VALLEY NATIONAL BANK A DIVIS
8000 SANTA TERESA BLVD
GILROY, CA 95020

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/31/2006

Loan Approval Gross Amount

$445,500

Loan Approval from the SBA

Of the total $445,500 loan amount, the SBA guaranteed $334,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Church's Fried Chicken franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. South Valley National Bank A Divis had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, South Valley National Bank A Divis made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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