Borrow Money to Buy a Mr. Electric Franchise

Need a loan to invest in a Mr. Electric franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Pittston, Pennsylvania needed money to invest in a Mr. Electric franchise back in 2003. Pnc Bank, National Association issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

MR. ELECTRIC
PITTSTON, PA 18640

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7629 - Electrical and Electronic Repair Shops

NAICS Code

811211 - Consumer Electronics Repair and Maintenance

Loan Approval Date

11/24/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mr. Electric franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

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

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

This SBA loan was for $75,000. How would you spend $75,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Mr. Electric

The Friends and Family Network

Small Business Banks in Philadelphia, Pennsylvania

Pennsylvania SBA Bank Lenders