Midamerica National Bank Provides SBA Loan to Buy Pizza Factory Franchise

Need money to buy a Pizza Factory franchise? Midamerica National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Pizza Factory franchise shouldn't be overly burdensome. In 2005, Midamerica National Bank issued an SBA franchise loan to an entrepreneur in Peoria, Illinois. Because Pizza Factory was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

P & R DOUGH CORP.
PEORIA, IL 61615

SBA Loan Lender

MIDAMERICA NATIONAL BANK
100 W ELM ST
CANTON, IL 61520

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/8/2005

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $131,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pizza Factory franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Pizza Factory

Understanding Dilution

Best Canton, Illinois Banks for Small Business

SBA Lenders in Illinois