Mt. Pleasant, SC Entrepreneur Gets SBA Loan to Buy New York Pizzeria Franchise

Need money to buy a New York Pizzeria franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a New York Pizzeria franchise shouldn't be overly burdensome. In 2005, Stearns Bank issued an SBA franchise loan to an entrepreneur in Mt. Pleasant, South Carolina. Because New York Pizzeria was registered with the SBA's registry of franchises, this South Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

YEATES BROTHERS, LLC
MT. PLEASANT, SC 29466

SBA Loan Lender

STEARNS BANK
140 5TH ST
ALBANY, MN 56307

This lender issued this SBA bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

11/16/2005

Loan Approval Gross Amount

$207,300

Loan Approval from the SBA

Of the total $207,300 loan amount, the SBA guaranteed $155,475.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a New York Pizzeria franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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