Bayonne, NJ Entrepreneur Gets SBA Loan to Buy Papa John's Pizza Franchise

Borrowing money to invest in a Papa John's Pizza franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Papa John's Pizza franchise may simply require a phone call to a local SBA banker. In 2005, Comerica Bank issued an SBA franchise loan to an entrepreneur in Bayonne, New Jersey. Because Papa John's Pizza was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

PAPA JOHN'S PIZZA
BAYONNE, NJ 07002

SBA Loan Lender

COMERICA BANK
455 CAPITAL MALL, STE 115
SACRAMENTO, CA 95814

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/25/2005

Loan Approval Gross Amount

$224,000

Loan Approval from the SBA

Of the total $224,000 loan amount, the SBA guaranteed $168,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Papa John's Pizza franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Papa John's International

SBIR Funding

Find an SBA Lender in Sacramento, California

Find an SBA Lender in California