Pnc Bank, National Association Provides SBA Loan to Buy The Pita Pit Franchise

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

Getting money to buy a The Pita Pit franchise may simply require a phone call to a local SBA banker. In 2004, Pnc Bank, National Association issued an SBA franchise loan to an entrepreneur in State College, Pennsylvania. Because The Pita Pit was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

THE PITA PIT
STATE COLLEGE, PA 16805

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/2/2004

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a The Pita Pit franchise. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the loan would help generate 20 new jobs and retain 20 existing jobs.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Pnc Bank, National Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Pita Pit

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SBA Banks in Pittsburgh, Pennsylvania

Getting an SBA Loan in Pennsylvania