Loan to Buy International House Of Pancakes Franchise Issued By Pnc Bank, National Association

Borrowing money to invest in an International House Of Pancakes franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Germantown, Maryland needed money to invest in an International House Of Pancakes franchise back in 2005. Pnc Bank, National Association issued an SBA franchise loan. Here are the details on this Maryland small business loan.

SBA Loan Borrower

HARVEST ASSOCIATES INCORPORATE
GERMANTOWN, MD 20874

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222

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.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/9/2005

Loan Approval Gross Amount

$1,575,000

Loan Approval from the SBA

Of the total $1,575,000 loan amount, the SBA guaranteed $1,181,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an International House Of Pancakes franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 20 new jobs and retain 20 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

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.

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