Exton, PA Entrepreneur Gets SBA Loan to Buy Philly's Famous Soft Pretzel Franchise

Need a loan to buy a Philly's Famous Soft Pretzel franchise? Preferred Capital Bidco, Inc. has a history of making these loans and they are guaranteed by the SBA.

Philly's Famous Soft Pretzel franchise loans are available to Exton, Pennsylvania entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Preferred Capital Bidco, Inc., based in Wilmington, Delaware, issued an SBA franchise loan for a Philly's Famous Soft Pretzel franchise in 2007. We've got all the details on this Pennsylvania small business loan.

SBA Loan Borrower

PHILLY SOFT PRETZEL
EXTON, PA 19353

SBA Loan Lender

PREFERRED CAPITAL BIDCO, INC.
300 DELAWARE AVENUE, SUITE 13
WILMINGTON, DE 19801

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

722211 - Limited-Service Restaurants

Loan Approval Date

6/22/2007

Loan Approval Gross Amount

$290,000

Loan Approval from the SBA

Of the total $290,000 loan amount, the SBA guaranteed $217,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Philly's Famous Soft Pretzel franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find other ways to get money to start a business, 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:

Role of Business Plan When Raising Money

SBA Approved Banks in Wilmington, Delaware

Where to Get an SBA Loan Delaware