Cincinnati, OH Entrepreneur Gets SBA Loan to Buy Penn Station Franchise

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

Getting money to buy a Penn Station franchise shouldn't be too tough. In 2001, National City Bank issued an SBA franchise loan to an entrepreneur in Cincinnati, Ohio. Because Penn Station was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

PENN STATION
CINCINNATI, OH 45219

SBA Loan Lender

NATIONAL CITY BANK
1 E FOURTH ST
CINCINNATI, OH 45202

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/14/2001

Loan Approval Gross Amount

$525,000

Loan Approval from the SBA

Of the total $525,000 loan amount, the SBA guaranteed $393,750.

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 14 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 Cincinnati, Ohio

Ohio SBA 7A Lenders