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

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

Want to borrow money to buy a Papa John's Pizza franchise? If so, here's a 2005 SBA franchise loan that you should know about. Citizens National Bank - Paintsville was the lender and the entrepreneur was based in Prestonsburg, Kentucky.

SBA Loan Borrower

PAPA JOHN'S
PRESTONSBURG, KY 41653

SBA Loan Lender

CITIZENS NATIONAL BANK - PAINTSVILLE
50 FRANKLIN CORNER
PRESTONSBURG, KY 41653

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

722211 - Limited-Service Restaurants

Loan Approval Date

4/8/2005

Loan Approval Gross Amount

$88,125

Loan Approval from the SBA

Of the total $88,125 loan amount, the SBA guaranteed $74,906.

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 156 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citizens National Bank - Paintsville that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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

Attracting Investors

SBA 7A Lenders in Prestonsburg, Kentucky

Kentucky SBA Bank Lenders