Illinois Entrepreneur Secures Financing to Buy Cici's Pizza Franchise

Borrowing money to purchase a Cici's Pizza franchise? Small Business Loan Source LLC has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Cici's Pizza franchise? If so, here's a 2007 SBA franchise loan that you should know about. Small Business Loan Source LLC was the lender and the entrepreneur was based in Wheaton, Illinois.

SBA Loan Borrower

MK EDWARDS, LLC
WHEATON, IL 60187

SBA Loan Lender

SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056

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

1/26/2007

Loan Approval Gross Amount

$581,000

Loan Approval from the SBA

Of the total $581,000 loan amount, the SBA guaranteed $435,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cici's Pizza franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 30 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Small Business Loan Source LLC and they will explain how you can get an SBA loan for your company.

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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