New Martinsville, WV Entrepreneur Gets SBA Loan to Buy Pizza Outlet Franchise

Borrowing money to buy a Pizza Outlet franchise? Progressive Bank has a history of making these loans and they are guaranteed by the SBA.

Pizza Outlet franchise loans are available to New Martinsville, West Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Progressive Bank, based in Wheeling, West Virginia, issued an SBA franchise loan for a Pizza Outlet franchise in 2000. We've got all the details on this West Virginia small business loan.

SBA Loan Borrower

PIZZA OUTLET
NEW MARTINSVILLE, WV 26155

SBA Loan Lender

PROGRESSIVE BANK
1701 WARWOOD AVE
WHEELING, WV 26003

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

2/16/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pizza Outlet franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $75,000 loan. Remember, you control your own destiny.

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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