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April 25, 2024 |
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| Home > Small Business Lenders by State > District of Columbia Business Loan Sources > Garland, Business Loans > United Central Bank Garland Business Loans > Saxbys Coffee Loan | ||||
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SBA 7A Banks for Washington, District of Columbia Business Owners
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District of Columbia Entrepreneur Secures Financing to Buy Saxbys Coffee FranchiseBorrowing money to buy a Saxbys Coffee franchise? United Central Bank has a history of making these loans and they are guaranteed by the SBA. Saxbys Coffee franchise loans are available to Washington, District of Columbia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, United Central Bank, based in Garland, Texas, issued an SBA franchise loan for a Saxbys Coffee franchise in 2007. We've got all the details on this District of Columbia small business loan. SBA Loan Borrower SAXBYS COFFEE SBA Loan Lender UNITED CENTRAL 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 6/15/2007 Loan Approval Gross Amount $148,000 Loan Approval from the SBA Of the total $148,000 loan amount, the SBA guaranteed $125,800. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Saxbys Coffee franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 7 existing jobs. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to 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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