Borrow Money to Buy a Waffle House Franchise

Need money to invest in a Waffle House franchise? Woodforest National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Waffle House franchise requires some effort but others before you have been successful. In 2004, Woodforest National Bank issued an SBA franchise loan to an entrepreneur in Huntington, West Virginia. Because Waffle House was registered with the SBA's registry of franchises, this West Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

WAFFLE HOUSE
HUNTINGTON, WV 25701

SBA Loan Lender

WOODFOREST NATIONAL BANK
13301 EAST FRWY
HOUSTON, TX 77015

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/26/2004

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Waffle House franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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