Conroe, TX Entrepreneur Gets SBA Loan to Buy Waffle House Franchise

Borrowing money to purchase a Waffle House franchise? Sterling Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Conroe, Texas and are interested in buying a Waffle House franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Sterling Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

WAFFLE HOUSE 1687
CONROE, TX 77304

SBA Loan Lender

STERLING BANK
2550 N LOOP WEST
HOUSTON, TX 77092

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/5/2005

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Waffle House franchise. At the time of the loan, the company had 50 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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