Community National Bank Provides SBA Loan to Buy Pita Pit Franchise

Borrowing money to purchase a Pita Pit franchise? Community National Bank has a history of making these loans and they are guaranteed by the SBA.

Pita Pit franchise loans are available to Cedar Falls, Iowa entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Community National Bank, based in Waterloo, Iowa, issued an SBA franchise loan for a Pita Pit franchise in 2007. We've got all the details on this Iowa small business loan.

SBA Loan Borrower

PITA PIT
CEDAR FALLS, IA 50631

SBA Loan Lender

COMMUNITY NATIONAL BANK
422 COMMERCIAL ST
WATERLOO, IA 50701

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

6/5/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pita Pit franchise. At the time of the loan, the company had 20 employees. This SBA loan request indicated that the borrowed money would help create 20 new jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Community National Bank 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:

Pita Pit

Startup Funding Tip

Small Bank Loans in Waterloo, Iowa

Iowa SBA Banks