Dothan, AL Entrepreneur Gets SBA Loan to Buy Pinch-A-Penny Franchise

Need money to buy a Pinch-A-Penny franchise? Wachovia Sba Lending, Inc. has a history of making these loans and they are guaranteed by the SBA.

Pinch-A-Penny franchise loans are available to Dothan, Alabama entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wachovia Sba Lending, Inc., based in Roseville, California, issued an SBA franchise loan for a Pinch-A-Penny franchise in 2006. We've got all the details on this Alabama small business loan.

SBA Loan Borrower

PINCH-A-PENNY POOL PATIO SPA
DOTHAN, AL 36303

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

6/12/2006

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pinch-A-Penny franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wachovia Sba Lending, Inc. and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Pinch A Penny, Inc.

Business Cash Advances

SBA Approved Banks in Roseville, California

SBA Participating Banks in California