Texas Entrepreneur Secures Financing to Buy Egg & I Restaurant the Franchise

Need a loan to invest in an Egg & I Restaurant the franchise? Woodforest National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near The Woodlands / Spring, Texas and are interested in buying an Egg & I Restaurant the franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Woodforest National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

THE EGG AND I
THE WOODLANDS / SPRING, TX 77381

SBA Loan Lender

WOODFOREST NATIONAL BANK
13301 EAST FRWY
HOUSTON, TX 77015

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

11/2/2005

Loan Approval Gross Amount

$438,000

Loan Approval from the SBA

Of the total $438,000 loan amount, the SBA guaranteed $328,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Egg & I Restaurant the franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 27 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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

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