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March 29, 2024  
 
 
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Bentonville, AR Entrepreneur Gets SBA Loan to Buy Pump It Up Franchise

Need a loan to purchase a Pump It Up franchise? Arvest Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bentonville, Arkansas needed money to invest in a Pump It Up franchise back in 2005. Arvest Bank issued an SBA franchise loan. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

PUMP IT UP OF BENTON COUNTY
BENTONVILLE, AR 72712

SBA Loan Lender

ARVEST BANK
75 N EAST AVE
FAYETTEVILLE, AR 72701

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713990 - Amusement and Recreation Industries

Loan Approval Date

7/13/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pump It Up franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

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.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Arvest Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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