Fowler, MI Entrepreneur Gets SBA Loan to Buy Mr. Pita Franchise

Borrowing money to invest in a Mr. Pita franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mr. Pita franchise requires some effort but others before you have been successful. In 2003, Comerica Bank issued an SBA franchise loan to an entrepreneur in Fowler, Michigan. Because Mr. Pita was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

MR PITA
FOWLER, MI 48433

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

8/26/2003

Loan Approval Gross Amount

$228,000

Loan Approval from the SBA

Of the total $228,000 loan amount, the SBA guaranteed $171,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mr. Pita franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

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

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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