Pennsylvania Entrepreneur Secures Financing to Buy 1-800-Radiator Franchise

Borrowing money to buy a 1-800-Radiator franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a 1-800-Radiator franchise shouldn't be too tough. In 2007, Pnc Bank, National Association issued an SBA franchise loan to an entrepreneur in Mechanicsburg, Pennsylvania. Because 1-800-Radiator was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

FRANK REFF DBA 1-800-RADIATOR
MECHANICSBURG, PA 17055

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
8800 TINICUM BLVD, 1ST FL, MA
PHILADELPHIA, PA 19153

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

423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers

Loan Approval Date

4/23/2007

Loan Approval Gross Amount

$255,000

Loan Approval from the SBA

Of the total $255,000 loan amount, the SBA guaranteed $191,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a 1-800-Radiator franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

If you need money to start business in Mechanicsburg PA, you ought to talk with a local Mechanicsburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mechanicsburg businesses.

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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