Muncie, IN Entrepreneur Gets SBA Loan to Buy Papa Murphy's Take & Bake Pizza Franchise

Need money to buy a Papa Murphy's Take & Bake Pizza franchise? Star Financial Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Muncie, Indiana needed money to invest in a Papa Murphy's Take & Bake Pizza franchise back in 2001. Star Financial Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan.

SBA Loan Borrower

PAPA MURPHY'S OF MUNCIE , INC.
MUNCIE, IN 47304

SBA Loan Lender

STAR FINANCIAL BANK
400 N HIGH ST, STE 100
MUNCIE, IN 47305

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

11/1/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Papa Murphy's Take & Bake Pizza franchise. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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.

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