Akron, OH Entrepreneur Gets SBA Loan to Buy Mail Boxes Etc. Usa Franchise

Need money to invest in a Mail Boxes Etc. Usa franchise? Firstmerit Commun Devel Corp has a history of making these loans and they are guaranteed by the SBA.

If you live near Akron, Ohio and are interested in buying a Mail Boxes Etc. Usa franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Firstmerit Commun Devel Corp. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

UPS STORE (THE)
AKRON, OH 44308

SBA Loan Lender

FIRSTMERIT COMMUN DEVEL CORP
106 S MAIN ST, #C
AKRON, OH 44308

This was a Low Documentation SBA loan. The SBA started this program to reduce 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561910 - Packaging and Labeling Services

Loan Approval Date

8/25/2003

Loan Approval Gross Amount

$116,300

Loan Approval from the SBA

Of the total $116,300 loan amount, the SBA guaranteed $98,855.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mail Boxes Etc. Usa franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Akron OH, you ought to talk with a local Akron SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Akron businesses.

This SBA loan was for $116,300. How would you spend $116,300 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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