Pennsylvania Entrepreneur Secures Financing to Buy Papa John's Pizza Franchise

Need money to invest in a Papa John's Pizza franchise? National Penn Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Hazleton, Pennsylvania needed money to invest in a Papa John's Pizza franchise back in 2002. National Penn Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

PAPA JOHN'S PIZZA
HAZLETON, PA 18201

SBA Loan Lender

NATIONAL PENN BANK
12 E BROAD ST
HAZLETON, PA 18201

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/31/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Papa John's Pizza franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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.

Related Links:

Papa John's International

Obtaining Funding - Friends and Family

Where to Get an SBA Loan in Hazleton, Pennsylvania

SBA Pennsylvania Lenders