SBA 100

Carl's Jr. Franchise

Carl's Jr. Franchise

Tim Nance, at one of his two Carl's Jr. franchises in Fairbanks, Alaska.

Company Name: 
Carl's Jr. (Franchise)

Lifelong Alaskan Tim Nance grew up in an entrepreneurial family and learned how to run a small business first hand.

In 2007, Tim opened the first Carl’s Jr. Burger restaurant in Fairbanks, Alaska. After more than three years of hard work and the incredible success of the first restaurant, Tim began working on opening another location on the other side of town.

In 2009, Tim put the numbers together in an effort to get financing to open a second store. He started working with a locally owned Alaskan Bank, but was unable to obtain suitable loan terms. Tim’s loan officer recommended a SBA Lender Relations Specialist at the Alaska District Office that Tim could contact to discuss possible SBA loan guarantee options.

“The SBA’s 504 loan program offered better terms and lower rates making our numbers make good sense,” said Tim Nance. The SBA-backed loan was approved and work started on the new restaurant in early 2010. The second Carl's, Jr. location opened in October 2010, adding over 50 new jobs to the local economy. The two stores together now employ more than 100 individuals.

Tim has worked with the local homeless shelter, a troubled youth program and the local foster kids program to train and employ a segment of the population that was undesired by most other employers in the area. “I really like helping people get back on their feet, it’s very satisfying to see these people work hard and gain the respect of our customers by a job well done.” said Nance.

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