Loan to Buy Domino's Pizza Franchise Issued By Wachovia Bank

Borrowing money to buy a Domino's Pizza franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Domino's Pizza franchise may simply require a phone call to a local SBA banker. In 2004, Wachovia Bank issued an SBA franchise loan to an entrepreneur in Anderson, South Carolina. Because Domino's Pizza was registered with the SBA's registry of franchises, this South Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

LOYAL C. SMITH AND CATHERINE A
Anderson, SC 29621

SBA Loan Lender

WACHOVIA BANK
301 S COLLEGE ST MAIN LOBBY
CHARLOTTE, NC 28202

This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/3/2004

Loan Approval Gross Amount

$198,000

Loan Approval from the SBA

Of the total $198,000 loan amount, the SBA guaranteed $99,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Domino's Pizza franchise. At the time of the loan, the company had 22 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wachovia Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Where to Get an SBA Loan North Carolina