Brownwood, TX Entrepreneur Gets SBA Loan to Buy Chicken Express Franchise

Need money to buy a Chicken Express franchise? Texas Bank has a history of making these loans and they are guaranteed by the SBA.

Chicken Express franchise loans are available to Brownwood, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Texas Bank, based in Brownwood, Texas, issued an SBA franchise loan for a Chicken Express franchise in 2005. We've got all the details on this Texas small business loan.

SBA Loan Borrower

CHICKEN EXPRESS
BROWNWOOD, TX 76804

SBA Loan Lender

TEXAS BANK
400 FISK ST
BROWNWOOD, TX 76801

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/5/2005

Loan Approval Gross Amount

$218,000

Loan Approval from the SBA

Of the total $218,000 loan amount, the SBA guaranteed $109,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Chicken Express franchise. At the time of the loan, the company had 28 employees. The SBA loan documents indicated that the loan would help generate 28 new jobs and retain 56 existing jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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:

Chicken Express

Obtaining Funding From a Venture Capitalist

Where to Get an SBA Loan in Brownwood, Texas

SBA Lenders in Texas