Grapevine, TX Entrepreneur Gets SBA Loan to Buy Pump It Up Franchise

Borrowing money to purchase a Pump It Up franchise? Small Business Loan Source LLC has a history of making these loans and they are guaranteed by the SBA.

Pump It Up franchise loans are available to Grapevine, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Small Business Loan Source LLC, based in Houston, Texas, issued an SBA franchise loan for a Pump It Up franchise in 2007. We've got all the details on this Texas small business loan.

SBA Loan Borrower

PUMP IT UP OF GRAPEVINE
GRAPEVINE, TX 75261

SBA Loan Lender

SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056

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

713990 - Amusement and Recreation Industries

Loan Approval Date

6/13/2007

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $180,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pump It Up franchise. At the time of the loan, the company had 28 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Small Business Loan Source LLC 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:

Pump It Up

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Where to Get an SBA Loan Texas