Fort Dodge, IA Entrepreneur Gets SBA Loan to Buy Simple Simon's Pizza Franchise

Borrowing money to invest in a Simple Simon's Pizza franchise? First American Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Simple Simon's Pizza franchise? If so, here's a 2003 SBA franchise loan that you should know about. First American Bank was the lender and the entrepreneur was based in Fort Dodge, Iowa.

SBA Loan Borrower

SIMPLE SIMON
FORT DODGE, IA 50501

SBA Loan Lender

FIRST AMERICAN BANK
1207 CENTRAL AVE
FORT DODGE, IA 50501

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/15/2003

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Simple Simon's Pizza franchise. At the time of the loan, the company had 32 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Fort Dodge IA, you ought to talk with a local Fort Dodge SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fort Dodge businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from First American 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:

Simple Simon's Pizza

Obtaining Funding - How to Borrow Money

Best Banks in Fort Dodge, Iowa

SBA Iowa Lenders