Borrow Money to Buy a Gambino's Pizza Franchise
Borrowing money to invest in a Gambino's Pizza franchise? Home State Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Louisville, Nebraska needed money to invest in a Gambino's Pizza franchise back in 2002. Home State Bank issued an SBA franchise loan. Here are the details on this Nebraska small business loan.
SBA Loan Borrower
GAMBINO'S PIZZA AND ITALIAN DE
LOUISVILLE, NE 68037
SBA Loan Lender
HOME STATE BANK
218 MAIN ST
LOUISVILLE, NE 68037
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.
722211 - Limited-Service Restaurants
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $48,000 loan amount, the SBA guaranteed $40,800.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Gambino's Pizza franchise. At the time of the loan, the company
had 15 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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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