Marysville, OH Entrepreneur Gets SBA Loan to Buy Papa John's Pizza Franchise

Borrowing money to buy a Papa John's Pizza franchise? National Bank - Indianapolis has a history of making these loans and they are guaranteed by the SBA.

If you live near Marysville, Ohio and are interested in buying a Papa John's Pizza franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by National Bank - Indianapolis. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

PAPA JOHN'S PIZZA
MARYSVILLE, OH 43040

SBA Loan Lender

NATIONAL BANK - INDIANAPOLIS
107 N PENNSYLVANIA ST
INDIANAPOLIS, IN 46204

This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/8/2003

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Papa John's Pizza franchise. At the time of the loan, the company had 55 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

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.

Related Links:

Papa John's International

Alternative Financing

Banks in Indianapolis, Indiana

Getting an SBA Loan in Indiana