Comerica Bank Provides SBA Loan to Buy International House Of Pancakes Franchise

Borrowing money to buy an International House Of Pancakes franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an International House Of Pancakes franchise requires some effort but others before you have been successful. In 2006, Comerica Bank issued an SBA franchise loan to an entrepreneur in Greenwood Village, Colorado. Because International House Of Pancakes was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis.

SBA Loan Borrower

IHOP 3073
GREENWOOD VILLAGE, CO 80111

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/25/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an International House Of Pancakes franchise. At the time of the loan, the company had 70 employees. This SBA loan request indicated that the loan would help generate 60 new jobs and retain 130 existing jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $100,000 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.

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International House of Pancakes

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