Loan to Buy Fox's Pizza Den Franchise Issued By Colonial Bank

Need money to purchase a Fox's Pizza Den franchise? Colonial Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Sarasota, Florida and are interested in buying a Fox's Pizza Den franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Colonial Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

FOX'S PIZZA DEN
SARASOTA, FL 34231

SBA Loan Lender

COLONIAL BANK
2 N TAMIAMI TRL, STE 100
SARASOTA, FL 34236

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/16/2003

Loan Approval Gross Amount

$116,500

Loan Approval from the SBA

Of the total $116,500 loan amount, the SBA guaranteed $99,025.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fox's Pizza Den franchise. At the time of the loan, the company had 15 employees. The loan application did not indicate that the SBA funding recipient 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Colonial Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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