Hedrick Savings Bank Provides SBA Loan to Buy Happy Joe's Pizza & Ice Cream Franchise

Need a loan to purchase a Happy Joe's Pizza & Ice Cream franchise? Hedrick Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Happy Joe's Pizza & Ice Cream franchise loans are available to Ottumwa, Iowa entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Hedrick Savings Bank, based in Ottumwa, Iowa, issued an SBA franchise loan for a Happy Joe's Pizza & Ice Cream franchise in 2003. We've got all the details on this Iowa small business loan.

SBA Loan Borrower

HAPPY JOE'S PIZZA
OTTUMWA, IA 52501

SBA Loan Lender

HEDRICK SAVINGS BANK
216 S MARKET ST
OTTUMWA, IA 52501

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/1/2003

Loan Approval Gross Amount

$190,000

Loan Approval from the SBA

Of the total $190,000 loan amount, the SBA guaranteed $142,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Happy Joe's Pizza & Ice Cream franchise. At the time of the loan, the company had 28 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Hedrick Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Hedrick Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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