Akron, OH Entrepreneur Gets SBA Loan to Buy White House Chicken Franchise

Borrowing money to purchase a White House Chicken franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Akron, Ohio needed money to invest in a White House Chicken franchise back in 2004. National City Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

WHITE HOUSE CHICKEN
AKRON, OH 44301

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

The lender provided this 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

722110 - Full-Service Restaurants

Loan Approval Date

1/21/2004

Loan Approval Gross Amount

$107,500

Loan Approval from the SBA

Of the total $107,500 loan amount, the SBA guaranteed $53,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a White House Chicken franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $107,500. How would you spend $107,500 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.

Related Links:

Small Business Loan

Small Bank Loans in Cleveland, Ohio

Ohio SBA Banks