Loan to Buy Pump It Up Franchise Issued By First Place Bank

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

Getting money to buy a Pump It Up franchise requires some effort but others before you have been successful. In 2003, First Place Bank issued an SBA franchise loan to an entrepreneur in Plymouth, Michigan. Because Pump It Up was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

PUMP IT UP OF MICHIGAN
PLYMOUTH, MI 48170

SBA Loan Lender

FIRST PLACE BANK
24725 W 12 MILE RD
SOUTHFIELD, MI 48034

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

713990 - Amusement and Recreation Industries

Loan Approval Date

9/25/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 2 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

This SBA loan was for $40,000. How would you spend $40,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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

Business Cash Advances

Small Business Banks in Southfield, Michigan

Michigan SBA 7A Banks