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May 2, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Pittsburgh, Business Loans > Pnc Bank, National Association Pittsburgh Business Loans > Planet Smoothies Loan | ||||
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Tips for Getting a Franchise Loan
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Pnc Bank, National Association Provides SBA Loan to Buy Planet Smoothie FranchiseNeed a loan to invest in a Planet Smoothie franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA. Planet Smoothie franchise loans are available to Cincinnati, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Pnc Bank, National Association, based in Pittsburgh, Pennsylvania, issued an SBA franchise loan for a Planet Smoothie franchise in 2006. We've got all the details on this Ohio small business loan. SBA Loan Borrower PLANET SMOOTHIES SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 445299 - Specialty Food Stores Loan Approval Date 3/17/2006 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Planet Smoothie franchise. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pnc Bank, National Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Advice on Getting a Small Business Loan Best Banks in Pittsburgh, Pennsylvania
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