Shrewsbury, MA Entrepreneur Gets SBA Loan to Buy Pump It Up Franchise

Need a loan to buy a Pump It Up franchise? Bay State Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Pump It Up franchise shouldn't be too tough. In 2006, Bay State Savings Bank issued an SBA franchise loan to an entrepreneur in Shrewsbury, Massachusetts. Because Pump It Up was registered with the SBA's registry of franchises, this Massachusetts small business loan was issued on an expedited basis.

SBA Loan Borrower

JUMP NATION, LLC
SHREWSBURY, MA 01545

SBA Loan Lender

BAY STATE SAVINGS BANK
28-32 FRANKLIN ST
WORCESTER, MA 01608

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713110 - Amusement and Theme Parks

Loan Approval Date

8/24/2006

Loan Approval Gross Amount

$480,000

Loan Approval from the SBA

Of the total $480,000 loan amount, the SBA guaranteed $360,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pump It Up franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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.

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