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July 9, 2020  
 
 
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Loan Census SBA Loan Info

California Entrepreneur Secures Financing to Buy Wetzel's Pretzel Franchise

Need a loan to buy a Wetzel's Pretzel franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Wetzel's Pretzel franchise loans are available to Santa Ana, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for a Wetzel's Pretzel franchise in 2000. We've got all the details on this California small business loan.

SBA Loan Borrower

WETZEL'S PRETZELS
SANTA ANA, CA 92705

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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.

SIC Code

5812 - Eating Places

Loan Approval Date

6/13/2000

Loan Approval Gross Amount

$161,000

Loan Approval from the SBA

Of the total $161,000 loan amount, the SBA guaranteed $120,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wetzel's Pretzel franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the borrowed money would help create 4 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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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Best Livingston, New Jersey Banks for Small Business

New Jersey SBA Bank Lenders