Fargo, ND Entrepreneur Gets SBA Loan to Buy The Pita Pit Franchise

Need a loan to invest in a Pita Pit franchise? Bremer Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Fargo, North Dakota needed money to invest in a The Pita Pit franchise back in 2005. Bremer Bank issued an SBA franchise loan. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

PITA PIT
FARGO, ND 58103

SBA Loan Lender

BREMER BANK
1444 45TH ST SW
FARGO, ND 58103

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/8/2005

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a The Pita Pit franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Fargo or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Pita Pit

Determining Proper Capital Structure for a Business

Banks in Fargo, North Dakota

SBA Participating Banks in North Dakota