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May 4, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Vito's Pizza, Inc. Loan | ||||
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Good Sources for Roscommon SBA Loans
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Michigan Entrepreneur Secures Financing to Buy Vito's Pizza FranchiseNeed money to purchase a Vito's Pizza franchise? Small Business Loan Source LLC has a history of making these loans and they are guaranteed by the SBA. Vito's Pizza franchise loans are available to Roscommon, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Small Business Loan Source LLC, based in Houston, Texas, issued an SBA franchise loan for a Vito's Pizza franchise in 2001. We've got all the details on this Michigan small business loan. SBA Loan Borrower VITO'S PIZZA, INC. SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 9/27/2001 Loan Approval Gross Amount $223,000 Loan Approval from the SBA Of the total $223,000 loan amount, the SBA guaranteed $167,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Vito's Pizza franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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: The Friends and Family Network SBA Participating Banks in Houston, Texas
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