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July 9, 2020  
 
 
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I Need an SBA 7A Loan to Buy a Franchise in Katy, Texas

 

 
Loan Census SBA Loan Info

Loan to Buy Wetzel's Pretzel Franchise Issued By Metrobank

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

Getting money to buy a Wetzel's Pretzel franchise shouldn't be overly burdensome. In 2000, Metrobank issued an SBA franchise loan to an entrepreneur in Katy, Texas. Because Wetzel's Pretzel was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

WETZEL'S PRETZELS AND COLD STO
KATY, TX 77494

SBA Loan Lender

METROBANK
9600 BELLAIRE BLVD
HOUSTON, TX 77036

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

445291 - Baked Goods Stores

Loan Approval Date

11/30/2000

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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:

Wetzel's Pretzels

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