Norcross, GA Entrepreneur Gets SBA Loan to Buy International House Of Pancakes Franchise

Need a loan to invest in an International House Of Pancakes franchise? United Central Bank has a history of making these loans and they are guaranteed by the SBA.

International House Of Pancakes franchise loans are available to Norcross, Georgia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, United Central Bank, based in Garland, Texas, issued an SBA franchise loan for an International House Of Pancakes franchise in 2006. We've got all the details on this Georgia small business loan.

SBA Loan Borrower

INTERNATIONAL HOUSE OF PANCAKE
NORCROSS, GA 30092

SBA Loan Lender

UNITED CENTRAL BANK
4555 W WALNUT ST
GARLAND, TX 75042

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/21/2006

Loan Approval Gross Amount

$563,000

Loan Approval from the SBA

Of the total $563,000 loan amount, the SBA guaranteed $422,250.

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 27 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 30 existing jobs.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 United Central 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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Good Banks for Small Business in Garland, Texas

Texas SBA 7A Lenders