Johnstown, PA Entrepreneur Gets SBA Loan to Buy Fox's Pizza Den Franchise

Need money to buy a Fox's Pizza Den franchise? Somerset Trust Company has a history of making these loans and they are guaranteed by the SBA.

Fox's Pizza Den franchise loans are available to Johnstown, Pennsylvania entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Somerset Trust Company, based in Somerset, Pennsylvania, issued an SBA franchise loan for a Fox's Pizza Den franchise in 2000. We've got all the details on this Pennsylvania small business loan.

SBA Loan Borrower

FOX'S PIZZA DEN
JOHNSTOWN, PA 15902

SBA Loan Lender

SOMERSET TRUST COMPANY
151 W MAIN ST
SOMERSET, PA 15501

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

Loan Approval Date

1/21/2000

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $93,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fox's Pizza Den franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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

Fox's Pizza Den

Alternative Financing

Who Lends Money to Small Businesses in Somerset, Pennsylvania

Pennsylvania SBA 7A Lenders