Plano, TX Entrepreneur Gets SBA Loan to Buy Original Pancake House the Franchise

Borrowing money to buy an Original Pancake House the franchise? Wachovia Sba Lending, Inc. has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Original Pancake House the franchise? If so, here's a 2006 SBA franchise loan that you should know about. Wachovia Sba Lending, Inc. was the lender and the entrepreneur was based in Plano, Texas.

SBA Loan Borrower

THE ORIGINAL PANCAKE HOUSE
PLANO, TX 75075

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/19/2006

Loan Approval Gross Amount

$1,157,800

Loan Approval from the SBA

Of the total $1,157,800 loan amount, the SBA guaranteed $868,350.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Original Pancake House the franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the funding would help create 30 new jobs.

Next Steps for Getting an SBA Loan

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. Wachovia Sba Lending, Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wachovia Sba Lending, Inc. 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.

Related Links:

Banking Deregulation's Effects on Entrepreneurship

Best Banks for Small Business in Roseville, California

Where to Get an SBA Loan California