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March 29, 2024  
 
 
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Raising Money in Millersville, Maryland With SBA Loans

 

 
Loan Census SBA Loan Info

Millersville, MD Entrepreneur Gets SBA Loan to Buy Pump It Up Franchise

Need a loan to buy a Pump It Up franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Pump It Up franchise? If so, here's a 2006 SBA franchise loan that you should know about. Pnc Bank, National Association was the lender and the entrepreneur was based in Millersville, Maryland.

SBA Loan Borrower

PUMP IT UP
MILLERSVILLE, MD 21108

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222

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

713120 - Amusement Arcades

Loan Approval Date

4/17/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pump It Up franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 13 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Pump It Up

Obtaining Funding - Friends and Family

Small Business Banks in Pittsburgh, Pennsylvania

Getting an SBA Loan in Pennsylvania