Pennsylvania Entrepreneur Secures Financing to Buy Figaro's Italian Pizza Franchise

Need money to buy a Figaro's Italian Pizza franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

Figaro's Italian Pizza franchise loans are available to Stroudsburg, Pennsylvania entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Pnc Bank, National Association, based in Pittsburgh, Pennsylvania, issued an SBA franchise loan for a Figaro's Italian Pizza franchise in 2004. We've got all the details on this Pennsylvania small business loan.

SBA Loan Borrower

FIGARO'S PIZZA
STROUDSBURG, PA 18360

SBA Loan Lender

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

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

8/24/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Figaro's Italian Pizza franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 15 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pnc Bank, National Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Figaro's Italian Pizza, Inc.

Raising Venture Capital

Banks in Pittsburgh, Pennsylvania

SBA Lenders in Pennsylvania