Florida Entrepreneur Secures Financing to Buy Pinch-A-Penny Franchise

Need money to purchase a Pinch-A-Penny franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Pinch-A-Penny franchise may simply require a phone call to a local SBA banker. In 2001, Bank Of The West issued an SBA franchise loan to an entrepreneur in Orange Park, Florida. Because Pinch-A-Penny was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

PINCH-A-PENNY #90
ORANGE PARK, FL 32065

SBA Loan Lender

BANK OF THE WEST
10181 TRUCKEE TAHOE AIRPORT R
TRUCKEE, CA 96161

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

453998 - Store Retailers

Loan Approval Date

11/19/2001

Loan Approval Gross Amount

$336,000

Loan Approval from the SBA

Of the total $336,000 loan amount, the SBA guaranteed $252,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pinch-A-Penny franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Pinch A Penny, Inc.

SBIR Funding

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California SBA 7A Banks