Farmers National Bank - Canfield Provides SBA Loan to Buy Petland Franchise

Borrowing money to purchase a Petland franchise? Farmers National Bank - Canfield has a history of making these loans and they are guaranteed by the SBA.

If you live near Ashtabula, Ohio and are interested in buying a Petland franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Farmers National Bank - Canfield. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

PETLAND
ASHTABULA, OH 44004

SBA Loan Lender

FARMERS NATIONAL BANK - CANFIELD
1 S MAIN ST
NILES, OH 44446

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . 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.

SIC Code

5999 - Retail Stores

Loan Approval Date

3/24/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Petland franchise. At the time of the loan, the company had 40 employees. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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

A Company That Helps Entrepreneurs

Small Business Banks in Niles, Ohio

Ohio SBA 7A Banks