Loan Census Banking News and Information
July 9, 2020  
 
 
  Business Loan Information  
 

Houston, Texas Bank for SBA Loans

 

 
Loan Census SBA Loan Info

Texas Entrepreneur Secures Financing to Buy Wetzel's Pretzel Franchise

Borrowing money to purchase a Wetzel's Pretzel franchise? Metrobank has a history of making these loans and they are guaranteed by the SBA.

If you live near Houston, Texas and are interested in buying a Wetzel's Pretzel franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Metrobank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

WETZEL PRETZEL
HOUSTON, TX 77056

SBA Loan Lender

METROBANK
9600 BELLAIRE BLVD
HOUSTON, TX 77036

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

3/12/2004

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Wetzel's Pretzel franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Wetzel's Pretzels

The Art of Bootstrapping

SBA 7A Banks in Houston, Texas

Where to Get an SBA Loan Texas