Loan to Buy Bounce U Franchise Issued By 1st Source Bank

Borrowing money to purchase a Bounce U franchise? 1st Source Bank has a history of making these loans and they are guaranteed by the SBA.

Bounce U franchise loans are available to Granger, Indiana entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, 1st Source Bank, based in South Bend, Indiana, issued an SBA franchise loan for a Bounce U franchise in 2007. We've got all the details on this Indiana small business loan.

SBA Loan Borrower

OVER INFLATED LLC AND RANDY T
GRANGER, IN 46530

SBA Loan Lender

1ST SOURCE BANK
100 N MICHIGAN ST
SOUTH BEND, IN 46601

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713120 - Amusement Arcades

Loan Approval Date

5/31/2007

Loan Approval Gross Amount

$288,500

Loan Approval from the SBA

Of the total $288,500 loan amount, the SBA guaranteed $216,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Bounce U franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 19 new jobs and retain 20 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st Source Bank 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:

Bounce U

Angel Investors

Banks in South Bend, Indiana

Indiana SBA 7A Lenders