Texas Entrepreneur Secures Financing to Buy Simple Simon's Pizza Franchise

Need a loan to purchase a Simple Simon's Pizza franchise? Southside Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Tyler, Texas and are interested in buying a Simple Simon's Pizza franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Southside Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SIMPLE SIMON
TYLER, TX 75701

SBA Loan Lender

SOUTHSIDE BANK
1201 S BECKHAM
TYLER, TX 75701

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/7/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Simple Simon's Pizza franchise. At the time of the loan, the company had 24 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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

Simple Simon's Pizza

Family and Friend Investors - Your First Financiers

Find an SBA Lender in Tyler, Texas

Browse All Business Loan Sources for Texas