Td Banknorth Provides SBA Loan to Buy International House Of Pancakes Franchise

Need a loan to purchase an International House Of Pancakes franchise? Td Banknorth has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an International House Of Pancakes franchise is doable. In 2004, Td Banknorth issued an SBA franchise loan to an entrepreneur in South Portland, Maine. Because International House Of Pancakes was registered with the SBA's registry of franchises, this Maine small business loan was issued on an expedited basis.

SBA Loan Borrower

IHOP
SOUTH PORTLAND, ME 04106

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/7/2004

Loan Approval Gross Amount

$1,166,000

Loan Approval from the SBA

Of the total $1,166,000 loan amount, the SBA guaranteed $874,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an International House Of Pancakes franchise. At the time of the loan, the company had 40 employees. The SBA loan application for the borrower indicated that the loan would help generate 55 new jobs and retain 95 existing jobs.

Getting an SBA Loan For Your Business

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

International House of Pancakes

The Art of Bootstrapping

Find an SBA Lender in Portland, Maine

Getting an SBA Loan in Maine