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March 29, 2024  
 
 
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I Need a Small Business Loan to Buy a Franchise in Corvallis, Oregon

 

 
Loan Census SBA Loan Info

Corvallis, OR Entrepreneur Gets SBA Loan to Buy Elmer's Pancake & Steak House Franchise

Borrowing money to buy an Elmer's Pancake & Steak House franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Elmer's Pancake & Steak House franchise? If so, here's a 2003 SBA franchise loan that you should know about. Wells Fargo Bank was the lender and the entrepreneur was based in Corvallis, Oregon.

SBA Loan Borrower

ELMER'S BREAKFAST LUNCH DINNER
CORVALLIS, OR 97330

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

12/30/2003

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Elmer's Pancake & Steak House franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 39 new jobs and retain 40 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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