Mississippi Entrepreneur Secures Financing to Buy Sicily's Pizza Franchise

Borrowing money to invest in a Sicily's Pizza franchise? Source Business & Indust Devel Cor has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sicily's Pizza franchise shouldn't be too tough. In 2001, Source Business & Indust Devel Cor issued an SBA franchise loan to an entrepreneur in Bay St. Louis, Mississippi. Because Sicily's Pizza was registered with the SBA's registry of franchises, this Mississippi small business loan was issued on an expedited basis.

SBA Loan Borrower

SICILY'S PIZZA ULTIMATE ITALIA
BAY ST. LOUIS, MS 39520

SBA Loan Lender

SOURCE BUSINESS & INDUST DEVEL COR
9400 OLD HAMMOND HIGHWAY,
BATON ROUGE, LA 70809

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/10/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sicily's Pizza franchise. At the time of the loan, the company had 110 employees. The SBA loan documents indicated that the loan would help generate 35 new jobs and retain 110 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Source Business & Indust Devel Cor had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Source Business & Indust Devel Cor 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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