Matthews, NC Entrepreneur Gets SBA Loan to Buy Pump It Up Franchise

Borrowing money to buy a Pump It Up franchise? Community W. Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Pump It Up franchise? If so, here's a 2004 SBA franchise loan that you should know about. Community W. Bank was the lender and the entrepreneur was based in Matthews, North Carolina.

SBA Loan Borrower

PUMP IT UP
MATTHEWS, NC 28105

SBA Loan Lender

COMMUNITY W. BANK
5827 HOLLISTER AVE
GOLETA, CA 93117

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

5/14/2004

Loan Approval Gross Amount

$123,600

Loan Approval from the SBA

Of the total $123,600 loan amount, the SBA guaranteed $105,060.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pump It Up 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 create 10 new jobs.

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

Although it's called an SBA loan, you 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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Community W. Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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

Find Start-Up Capital

Banks in Goleta, California

Where to Get an SBA Loan California