Witchita, KS Entrepreneur Gets SBA Loan to Buy The Pita Pit Franchise

Borrowing money to buy a Pita Pit franchise? Landmark National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Witchita, Kansas and are interested in buying a The Pita Pit franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Landmark National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

PITA PIT (THE)
WITCHITA, KS 67206

SBA Loan Lender

LANDMARK NATIONAL BANK
701 POYNTZ AVE
MANHATTAN, KS 66502

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/20/2007

Loan Approval Gross Amount

$222,000

Loan Approval from the SBA

Of the total $222,000 loan amount, the SBA guaranteed $166,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a The Pita Pit franchise. At the time of the loan, the company had 25 employees. The SBA loan documents indicated that the loan would help create 25 new jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Landmark National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Landmark National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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