California Entrepreneur Secures Financing to Buy Pita Pit Franchise

Borrowing money to buy a Pita Pit franchise? Silvergate Bank has a history of making these loans and they are guaranteed by the SBA.

Pita Pit franchise loans are available to San Diego, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Silvergate Bank, based in La Jolla, California, issued an SBA franchise loan for a Pita Pit franchise in 2007. We've got all the details on this California small business loan.

SBA Loan Borrower

THE PITA PIT
SAN DIEGO, CA 92123

SBA Loan Lender

SILVERGATE BANK
4275 EXECUTIVE SQ, STE 800
LA JOLLA, CA 92037

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/26/2007

Loan Approval Gross Amount

$250,500

Loan Approval from the SBA

Of the total $250,500 loan amount, the SBA guaranteed $187,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pita Pit franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 2 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $250,500 loan. Remember, where there is a will, there is a way!

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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