Borrow Money to Buy a Petland Franchise

Borrowing money to buy a Petland franchise? La Porte Savings Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Valparaiso, Indiana needed money to invest in a Petland franchise back in 2003. La Porte Savings Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan.

SBA Loan Borrower

PETLAND VALPARAISO
VALPARAISO, IN 46383

SBA Loan Lender

LA PORTE SAVINGS BANK
2000 FRANKLIN ST
MICHIGAN CITY, IN 46360

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453910 - Pet and Pet Supplies Stores

Loan Approval Date

3/5/2003

Loan Approval Gross Amount

$490,000

Loan Approval from the SBA

Of the total $490,000 loan amount, the SBA guaranteed $367,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Petland franchise. At the time of the loan, the company had 11 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $490,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Petland

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Small Bank Loans in Michigan City, Indiana

SBA Participating Banks in Indiana