Akron, OH Entrepreneur Gets SBA Loan to Buy Blimpie Franchise

Need a loan to invest in a Blimpie franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Blimpie franchise is doable. In 2003, The Huntington National Bank issued an SBA franchise loan to an entrepreneur in Akron, Ohio. Because Blimpie was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

BLIMPIE'S SUBS AND SALADS
AKRON, OH 44304

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
108 MAIN AVE SW
WARREN, OH 44482

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/29/2003

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

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

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $20,000 loan. Remember, where there is a will, there is a way!

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:

Blimpie Subs & Salads

The Friends and Family Network

Good Banks for Small Business in Warren, Ohio

Getting an SBA Loan in Ohio