Borrow Money to Buy an International House Of Pancakes Franchise
Need a loan to purchase an International House Of Pancakes franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.
If you live near Peoria, Illinois and are interested in buying an International House Of Pancakes franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Comerica Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.
SBA Loan Borrower
INTERNATIONAL HOUSE OF PANCAKE
PEORIA, IL 61615
SBA Loan Lender
COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
1/24/2003
Loan Approval Gross Amount
$445,000
Loan Approval from the SBA
Of the total $445,000 loan amount, the SBA guaranteed $333,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy an International House Of Pancakes franchise. At the time of the loan, the company
had only one employee. The loan application indicated that the funding would help generate 50 new jobs.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
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 Comerica 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:
International House of Pancakes
Business Credit Evaluation
Small Business Banks in Houston, Texas
Getting a Business Loan in Texas