Borrow Money to Buy an Atlanta Bread Company Franchise

Borrowing money to buy an Atlanta Bread Company franchise? City National Bank & Trust - Lawton has a history of making these loans and they are guaranteed by the SBA.

If you live near Lawton, Oklahoma and are interested in buying an Atlanta Bread Company franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by City National Bank & Trust - Lawton. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ATLANTA BREAD COMPANY
LAWTON, OK 73502

SBA Loan Lender

CITY NATIONAL BANK & TRUST - LAWTON
5TH AND D AVE
LAWTON, OK 73502

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/25/2002

Loan Approval Gross Amount

$699,500

Loan Approval from the SBA

Of the total $699,500 loan amount, the SBA guaranteed $524,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Atlanta Bread Company franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

Atlanta Bread Company

Find Start-Up Capital

SBA Banks in Lawton, Oklahoma

SBA Oklahoma Banks