Indiana, PA Entrepreneur Gets SBA Loan to Buy Ripley's Attractions Franchise

Borrowing money to invest in a Ripley's Attractions franchise? Indiana First Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Ripley's Attractions franchise may simply require a phone call to a local SBA banker. In 2004, Indiana First Savings Bank issued an SBA franchise loan to an entrepreneur in Indiana, Pennsylvania. Because Ripley's Attractions was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

SCOOP SCRAPE & SMOOTH INC
INDIANA, PA 15701

SBA Loan Lender

INDIANA FIRST SAVINGS BANK
935 PHILADELPHIA ST
INDIANA, PA 15701

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

1/16/2004

Loan Approval Gross Amount

$127,000

Loan Approval from the SBA

Of the total $127,000 loan amount, the SBA guaranteed $63,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Ripley's Attractions franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the borrowed money would help generate 6 new jobs.

Getting an SBA Loan For Your Business

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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