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May 3, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Hollidaysburg, Business Loans > First Commonwealth Bank Hollidaysburg Business Loans > Fox's Pizza Den Of Meadville Loan | ||||
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I Need an SBA Loan to Buy a Franchise in Turtle Creek (westinghouse), Pennsylvania
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Turtle Creek (westinghouse), PA Entrepreneur Gets SBA Loan to Buy Fox's Pizza Den FranchiseBorrowing money to buy a Fox's Pizza Den franchise? First Commonwealth Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Turtle Creek (westinghouse), Pennsylvania needed money to invest in a Fox's Pizza Den franchise back in 2005. First Commonwealth Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower FOX'S PIZZA DEN OF MEADVILLE SBA Loan Lender FIRST COMMONWEALTH BANK This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 9/12/2005 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $12,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Fox's Pizza Den franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 1 existing job. 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. 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: Obtaining Funding - Getting Venture Capital Small Bank Loans in Hollidaysburg, Pennsylvania
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