Loan to Buy Petland Franchise Issued By Ups Capital Business Credit

Need money to invest in a Petland franchise? Ups Capital Business Credit has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Niles, Illinois needed money to invest in a Petland franchise back in 2006. Ups Capital Business Credit issued an SBA franchise loan. Here are the details on this Illinois small business loan.

SBA Loan Borrower

L W PETS LLC
NILES, IL 60714

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453910 - Pet and Pet Supplies Stores

Loan Approval Date

4/3/2006

Loan Approval Gross Amount

$930,000

Loan Approval from the SBA

Of the total $930,000 loan amount, the SBA guaranteed $697,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Petland franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 1 existing job.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Ups Capital Business Credit and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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