Michigan Entrepreneur Secures Financing to Buy Pump It Up Franchise

Borrowing money to buy a Pump It Up franchise? Comerica Bank 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 2008 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Canton, Michigan.

SBA Loan Borrower

PUMP IT UP
CANTON, MI 48188

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713990 - Amusement and Recreation Industries

Loan Approval Date

1/30/2008

Loan Approval Gross Amount

$295,000

Loan Approval from the SBA

Of the total $295,000 loan amount, the SBA guaranteed $221,250.

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 31 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 27 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source

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 Comerica 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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