West Covina, CA Entrepreneur Gets SBA Loan to Buy Wetzel's Pretzel Franchise

Need a loan to buy a Wetzel's Pretzel franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Wetzel's Pretzel franchise may simply require a phone call to a local SBA banker. In 2005, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in West Covina, California. Because Wetzel's Pretzel was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

WETZEL'S PRETZELS
WEST COVINA, CA 91790

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This lender provides SBA bank 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

311811 - Retail Bakeries

Loan Approval Date

2/18/2005

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $157,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wetzel's Pretzel franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 6 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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Getting a Business Loan in New Jersey