Texas Entrepreneur Secures Financing to Buy Cici's Pizza Franchise

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

If you live near El Paso, Texas and are interested in buying a Cici's Pizza franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Comerica Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

CICI'S PIZZA
EL PASO, TX 79924

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/26/2003

Loan Approval Gross Amount

$396,000

Loan Approval from the SBA

Of the total $396,000 loan amount, the SBA guaranteed $297,000.

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 100 employees. This SBA loan request indicated that the loan would help generate 25 new jobs and retain 100 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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