Covington, WA Entrepreneur Gets SBA Loan to Buy Juice It Up Franchise

Need a loan to purchase a Juice It Up franchise? U.S. Bank National Association has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Covington, Washington needed money to invest in a Juice It Up franchise back in 2003. U.S. Bank National Association issued an SBA franchise loan. Here are the details on this Washington small business loan.

SBA Loan Borrower

JUICE IT UP
COVINGTON, WA 98042

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

11/25/2003

Loan Approval Gross Amount

$182,100

Loan Approval from the SBA

Of the total $182,100 loan amount, the SBA guaranteed $136,575.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Juice It Up franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help create 5 new jobs.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like U.S. Bank National Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Juice It Up Franchise Corp.

Obtaining Funding - Getting Venture Capital

SBA Approved Banks in Cincinnati, Ohio

SBA Lenders in Ohio