Borrow Money to Buy a Pita Pit Franchise

Need a loan to invest in a Pita Pit franchise? Iowa St. Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Pita Pit franchise? If so, here's a 2006 SBA franchise loan that you should know about. Iowa St. Bank & Trust was the lender and the entrepreneur was based in Iowa City, Iowa.

SBA Loan Borrower

PITA PIT
IOWA CITY, IA 52240

SBA Loan Lender

IOWA ST. BANK & TRUST
102 S CLINTON ST
IOWA CITY, IA 52240

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

722211 - Limited-Service Restaurants

Loan Approval Date

8/3/2006

Loan Approval Gross Amount

$354,500

Loan Approval from the SBA

Of the total $354,500 loan amount, the SBA guaranteed $265,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pita Pit franchise. At the time of the loan, the company had 30 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 28 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.

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 $354,500 loan. Remember, you control your own destiny.

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:

Pita Pit

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Who Lends Money to Small Businesses in Iowa City, Iowa

SBA Iowa Lenders