Small Business Loan Source LLC Provides SBA Loan to Buy Cici's Pizza Franchise

Need money to invest in a Cici's Pizza franchise? Small Business Loan Source LLC has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Cici's Pizza franchise? If so, here's a 2007 SBA franchise loan that you should know about. Small Business Loan Source LLC was the lender and the entrepreneur was based in Beaumont, Texas.

SBA Loan Borrower

GREMLIN PIZZA, LLC
BEAUMONT, TX 77708

SBA Loan Lender

SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/22/2007

Loan Approval Gross Amount

$521,000

Loan Approval from the SBA

Of the total $521,000 loan amount, the SBA guaranteed $390,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Cici's Pizza franchise. At the time of the loan, the company had 18 employees. The loan application indicated that the loan would help retain 18 existing 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.

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 Small Business Loan Source LLC 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.

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