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April 28, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Temecula, Business Loans > Temecula Valley Bank Temecula Business Loans > Atlanta Bread Company Loan | ||||
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Raising Money in Hickory, North Carolina With SBA Loans
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Hickory, NC Entrepreneur Gets SBA Loan to Buy Atlanta Bread Company FranchiseBorrowing money to purchase an Atlanta Bread Company franchise? Temecula Valley Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Hickory, North Carolina needed money to invest in an Atlanta Bread Company franchise back in 2003. Temecula Valley Bank issued an SBA franchise loan. Here are the details on this North Carolina small business loan. SBA Loan Borrower ATLANTA BREAD COMPANY SBA Loan Lender TEMECULA VALLEY BANK 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 8/15/2003 Loan Approval Gross Amount $645,000 Loan Approval from the SBA Of the total $645,000 loan amount, the SBA guaranteed $483,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy an Atlanta Bread Company franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 20 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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:
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