 |
 |
April 25, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Florida Business Loan Sources > Birmingham, Business Loans > Wachovia Bank Birmingham Business Loans > Checkers Loan | ||||
 |
||||
Where to Get an SBA Loan to Purchase a Franchise
|
||||
 |
Borrow Money to Buy a Checkers Drive-In Restaurant FranchiseNeed a loan to purchase a Checkers Drive-In Restaurant franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Safety Harbor, Florida needed money to invest in a Checkers Drive-In Restaurant franchise back in 2004. Wachovia Bank issued an SBA franchise loan. Here are the details on this Florida small business loan. SBA Loan Borrower CHECKERS SBA Loan Lender WACHOVIA 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 722110 - Full-Service Restaurants Loan Approval Date 4/22/2004 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Checkers Drive-In Restaurant franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 15 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. 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: Checkers Drive-In Restaurants, Inc. Obtaining Funding From a Venture Capitalist Where to Get an SBA Loan in Birmingham, Alabama
|
|
||
|
||||
|
|
||||