Ohio Entrepreneur Secures Financing to Buy Kabloom Franchise

Need a loan to purchase a Kabloom franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Kabloom franchise? If so, here's a 2004 SBA franchise loan that you should know about. Newtek Small Business Finance Inc. was the lender and the entrepreneur was based in Cincinnati, Ohio.

SBA Loan Borrower

KABLOOM (DORGON, LLC)
CINCINNATI, OH 45255

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5992 - Florists

NAICS Code

453110 - Florists

Loan Approval Date

2/18/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Kabloom franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $150,000 loan. Remember, fight for what you want, and it will be yours!

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:

KaBloom Florists

Equity Financing

Where to Get an SBA Loan in New York, New York

Getting an SBA Loan in New York