Illinois National Bank Provides SBA Loan to Buy Godfather's Pizza Franchise

Borrowing money to purchase a Godfather's Pizza franchise? Illinois National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Godfather's Pizza franchise shouldn't be too tough. In 2003, Illinois National Bank issued an SBA franchise loan to an entrepreneur in Springfield, Illinois. Because Godfather's Pizza was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

J & M FAMILY FUN & FOOD, INC.
SPRINGFIELD, IL 62703

SBA Loan Lender

ILLINOIS NATIONAL BANK
322 E CAPITOL AVE
SPRINGFIELD, IL 62701

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/24/2003

Loan Approval Gross Amount

$137,000

Loan Approval from the SBA

Of the total $137,000 loan amount, the SBA guaranteed $116,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Godfather's Pizza franchise. At the time of the loan, the company had 18 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

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

Related Links:

Godfather's Pizza

Startup Funding Tip

SBA Participating Banks in Springfield, Illinois

Illinois SBA 7A Banks