Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Washington Mutual Bank Small Business Franchise Loan

 

 
Loan Census SBA Loan Info

Borrow Money to Buy a Pizza Inn Franchise

Borrowing money to purchase a Pizza Inn franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Colleyville, Texas needed money to invest in a Pizza Inn franchise back in 2000. Washington Mutual Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

COLLEYVILLE BEER & WINE
COLLEYVILLE, TX 76034

SBA Loan Lender

WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014

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.

SIC Code

5541 - Gasoline Service Stations

Loan Approval Date

1/5/2000

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pizza Inn franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help generate 12 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Pizza Inn, Inc.

Obtaining Funding From a Venture Capitalist

Small Business Banks in Henderson, Nevada

SBA Participating Banks in Nevada