South Carolina Entrepreneur Secures Financing to Buy International House Of Pancakes Franchise

Borrowing money to buy an International House Of Pancakes franchise? Business Devel Corp - So. Caro has a history of making these loans and they are guaranteed by the SBA.

If you live near Greenville, South Carolina and are interested in buying an International House Of Pancakes franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Business Devel Corp - So. Caro. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

IHOP GREENVILLE
GREENVILLE, SC 29607

SBA Loan Lender

BUSINESS DEVEL CORP - SO. CARO
111 EXEC CENTER DR, STE 225
COLUMBIA, SC 29221

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

722110 - Full-Service Restaurants

Loan Approval Date

3/9/2007

Loan Approval Gross Amount

$223,000

Loan Approval from the SBA

Of the total $223,000 loan amount, the SBA guaranteed $167,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an International House Of Pancakes franchise. At the time of the loan, the company had 40 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $223,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

International House of Pancakes

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Small Business Banks in Columbia, South Carolina

South Carolina SBA 7A Lenders