Melvin Savings Bank Provides SBA Loan to Buy Pizza Ranch Franchise

Need a loan to buy a Pizza Ranch franchise? Melvin Savings Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Sibley, Iowa and are interested in buying a Pizza Ranch franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Melvin Savings Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SIBLEY PIZZA RANCH
SIBLEY, IA 51249

SBA Loan Lender

MELVIN SAVINGS BANK
260 MAIN ST
MELVIN, IA 51350

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/22/2003

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pizza Ranch franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 $140,000 loan. Remember, anyone can do it... so why not you?

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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