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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Granbury, Business Loans > Community Bank Granbury Business Loans > Mr Jims Pizza Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Community Bank Provides SBA Loan to Buy Mr. Jim's Pizza FranchiseBorrowing money to purchase a Mr. Jim's Pizza franchise? Community Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Mr. Jim's Pizza franchise requires some effort but others before you have been successful. In 2007, Community Bank issued an SBA franchise loan to an entrepreneur in Burleson, Texas. Because Mr. Jim's Pizza was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis. SBA Loan Borrower MR JIMS PIZZA SBA Loan Lender COMMUNITY 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 10/5/2007 Loan Approval Gross Amount $55,600 Loan Approval from the SBA Of the total $55,600 loan amount, the SBA guaranteed $47,260. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Mr. Jim's Pizza franchise. At the time of the loan, the company had 18 employees. The SBA loan documents indicated that the loan would help generate 17 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Community Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Raising VC Money for Social Networking Companies
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