Guntersville, AL Entrepreneur Gets SBA Loan to Buy Domino's Pizza Franchise

Borrowing money to purchase a Domino's Pizza franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Domino's Pizza franchise? If so, here's a 2004 SBA franchise loan that you should know about. Wachovia Bank was the lender and the entrepreneur was based in Guntersville, Alabama.

SBA Loan Borrower

DOMINO'S PIZZA
GUNTERSVILLE, AL 35976

SBA Loan Lender

WACHOVIA BANK
420 N 20TH ST
BIRMINGHAM, AL 35203

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/21/2004

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Domino's Pizza franchise. At the time of the loan, the company had 26 employees. The loan application indicated that the loan would help generate 40 new jobs and retain 20 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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