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April 20, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Burleson, Business Loans > First National Bank - Burleson Burleson Business Loans > Chicken Express Loan | ||||
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First National Bank - Burleson SBA Franchise Loans
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Memphis, TX Entrepreneur Gets SBA Loan to Buy Chicken Express FranchiseNeed money to purchase a Chicken Express franchise? First National Bank - Burleson has a history of making these loans and they are guaranteed by the SBA. If you live near Memphis, Texas and are interested in buying a Chicken Express franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by First National Bank - Burleson. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower CHICKEN EXPRESS SBA Loan Lender FIRST NATIONAL BANK - BURLESON This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 5/24/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Chicken Express franchise. At the time of the loan, the company had 30 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank - Burleson and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Good Banks for Small Business in Burleson, Texas
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