North Port, FL Entrepreneur Gets SBA Loan to Buy Fox's Pizza Den Franchise

Borrowing money to purchase a Fox's Pizza Den franchise? Colonial Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fox's Pizza Den franchise is doable. In 2002, Colonial Bank issued an SBA franchise loan to an entrepreneur in North Port, Florida. Because Fox's Pizza Den was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

FOX'S PIZZA DEN
NORTH PORT, FL 34287

SBA Loan Lender

COLONIAL BANK
160 POINTE LOOP DR
VENICE, FL 34293

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/4/2002

Loan Approval Gross Amount

$74,000

Loan Approval from the SBA

Of the total $74,000 loan amount, the SBA guaranteed $62,900.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fox's Pizza Den franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Colonial Bank and they will explain how you can get an SBA loan for your company.

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:

Fox's Pizza Den

Banking Deregulation's Effects on Entrepreneurship

SBA Approved Banks in Venice, Florida

Florida SBA 7A Lenders