The Colony, TX Entrepreneur Gets SBA Loan to Buy Le Peep Restaurant Franchise

Need a loan to buy a Le Peep Restaurant franchise? Community Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Le Peep Restaurant franchise? If so, here's a 2002 SBA franchise loan that you should know about. Community Bank was the lender and the entrepreneur was based in The Colony, Texas.

SBA Loan Borrower

LE PEEP GRILL
THE COLONY, TX 75056

SBA Loan Lender

COMMUNITY BANK
500 S MORGAN ST
GRANBURY, TX 76048

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/24/2002

Loan Approval Gross Amount

$149,100

Loan Approval from the SBA

Of the total $149,100 loan amount, the SBA guaranteed $126,735.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Le Peep Restaurant franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 25 new jobs and retain 17 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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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