First Bank And Trust Provides SBA Loan to Buy International House Of Pancakes Franchise

Borrowing money to purchase an International House Of Pancakes franchise? First Bank And Trust has a history of making these loans and they are guaranteed by the SBA.

International House Of Pancakes franchise loans are available to Baton Rouge, Louisiana entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Bank And Trust, based in New Orleans, Louisiana, issued an SBA franchise loan for an International House Of Pancakes franchise in 2006. We've got all the details on this Louisiana small business loan.

SBA Loan Borrower

IHOP RESTAURANT
BATON ROUGE, LA 70811

SBA Loan Lender

FIRST BANK AND TRUST
909 POYDRAS ST, STE 100
NEW ORLEANS, LA 70112

This SBA 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

722110 - Full-Service Restaurants

Loan Approval Date

3/2/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an International House Of Pancakes franchise. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help generate 12 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First Bank And Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

International House of Pancakes

Raising Venture Capital

SBA 7A Banks for New Orleans, Louisiana Loans

Louisiana SBA 7A Lenders