Texas Entrepreneur Secures Financing to Buy Pizza Inn Franchise

Need a loan to invest in a Pizza Inn franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Pizza Inn franchise? If so, here's a 2001 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Houston, Texas.

SBA Loan Borrower

TEXAS FOOD MART
HOUSTON, TX 77083

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

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

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

12/11/2001

Loan Approval Gross Amount

$696,000

Loan Approval from the SBA

Of the total $696,000 loan amount, the SBA guaranteed $522,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pizza Inn franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 3 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

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.

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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