Metropolitan National Bank Provides SBA Loan to Buy International House Of Pancakes Franchise

Borrowing money to buy an International House Of Pancakes franchise? Metropolitan National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an International House Of Pancakes franchise shouldn't be too tough. In 2005, Metropolitan National Bank issued an SBA franchise loan to an entrepreneur in Maumelle, Arkansas. Because International House Of Pancakes was registered with the SBA's registry of franchises, this Arkansas small business loan was issued on an expedited basis.

SBA Loan Borrower

INTERNATIONAL HOUSE OF PANCAKE
MAUMELLE, AR 72113

SBA Loan Lender

METROPOLITAN NATIONAL BANK
425 W CAPITOL AVE
LITTLE ROCK, AR 72201

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

4/8/2005

Loan Approval Gross Amount

$171,000

Loan Approval from the SBA

Of the total $171,000 loan amount, the SBA guaranteed $85,500.

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 48 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 48 existing jobs.

Getting an SBA Loan For Your Business

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Metropolitan National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

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SBA 7A Banks in Little Rock, Arkansas

Getting a Business Loan in Arkansas