Cedar Hill, MO Entrepreneur Gets SBA Loan to Buy Mark Pi's Express Franchise

Borrowing money to invest in a Mark Pi's Express franchise? Midwest Bankcentre has a history of making these loans and they are guaranteed by the SBA.

If you live near Cedar Hill, Missouri and are interested in buying a Mark Pi's Express franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Midwest Bankcentre. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

B. DONOVAN'S ST. LOUIS GRILL
CEDAR HILL, MO 63016

SBA Loan Lender

MIDWEST BANKCENTRE
2191 LEMAY FERRY RD
SAINT LOUIS, MO 63125

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

9/27/2000

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mark Pi's Express franchise. At the time of the loan, the company had 35 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Midwest Bankcentre that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Financing Your Business

Small Business Banks in Saint Louis, Missouri

Missouri SBA 7A Lenders