Loan to Buy Penn Station Franchise Issued By National City Bank

Need money to buy a Penn Station franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Penn Station franchise loans are available to Canton, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, National City Bank, based in Cleveland, Ohio, issued an SBA franchise loan for a Penn Station franchise in 2003. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

PENN STATION
CANTON, OH 44718

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/24/2003

Loan Approval Gross Amount

$271,200

Loan Approval from the SBA

Of the total $271,200 loan amount, the SBA guaranteed $203,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Penn Station franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 12 new jobs and retain 3 existing jobs.

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.

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 $271,200 loan. Remember, things become real when you believe you can achieve them!

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:

Penn Station East Coast Subs

Business Credit Evaluation

Where to Get an SBA Loan in Cleveland, Ohio

Ohio SBA Banks