North Carolina Entrepreneur Secures Financing to Buy Papa Romano's Franchise

Need a loan to buy a Papa Romano's franchise? The Fidelity Bank has a history of making these loans and they are guaranteed by the SBA.

Papa Romano's franchise loans are available to Shelby, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The Fidelity Bank, based in Shelby, North Carolina, issued an SBA franchise loan for a Papa Romano's franchise in 2004. We've got all the details on this North Carolina small business loan.

SBA Loan Borrower

PAPA'S PIZZA-TO-GO
SHELBY, NC 28150

SBA Loan Lender

THE FIDELITY BANK
331 S LAFAYETTE ST
SHELBY, NC 28150

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/24/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Papa Romano's franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Fidelity Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Fidelity Bank 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.

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