Borrow Money to Buy an International House Of Pancakes Franchise

Borrowing money to buy an International House Of Pancakes franchise? Bank Of America 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 2002, Bank Of America issued an SBA franchise loan to an entrepreneur in Hamden, Connecticut. Because International House Of Pancakes was registered with the SBA's registry of franchises, this Connecticut small business loan was issued on an expedited basis.

SBA Loan Borrower

INTERNATIONAL HOUSE OF PANCAKE
HAMDEN, CT 06517

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

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

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/27/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 documents indicated that the loan would help generate 4 new jobs and retain 44 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, if it to be, it is up to me!

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

Obtaining Funding - Getting Venture Capital

Where to Get an SBA Loan in Providence, Rhode Island

SBA Rhode Island Banks