Borrow Money to Buy a Pinch-A-Penny Franchise
Need money to purchase a Pinch-A-Penny franchise? Orlando National Bank has a history of making these loans and they are guaranteed by the SBA.
If you live near Orlando, Florida and are interested in buying a Pinch-A-Penny franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Orlando National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.
SBA Loan Borrower
PINCH-A-PENNY #96
ORLANDO, FL 32817
SBA Loan Lender
ORLANDO NATIONAL BANK
502 N HWY 17-92
LONGWOOD, FL 32750
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
453998 - Store Retailers
Loan Approval Date
11/15/2001
Loan Approval Gross Amount
$115,000
Loan Approval from the SBA
Of the total $115,000 loan amount, the SBA guaranteed $97,750.
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 15 employees. This SBA loan request indicated that the loan would help retain 15 existing jobs.
Next Steps for Getting an SBA Loan
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.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Orlando National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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.
Famous Venture Capitalists
Small Bank Loans in Longwood, Florida
Florida SBA 7A Banks