The Huntington National Bank Provides SBA Loan to Buy Iga Food Stores Franchise

Borrowing money to buy an Iga Food Stores franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA.

Iga Food Stores franchise loans are available to Cincinnati, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The Huntington National Bank, based in Columbus, Ohio, issued an SBA franchise loan for an Iga Food Stores franchise in 2002. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

SPRINGDALE IGA
CINCINNATI, OH 45251

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

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

445110 - Supermarkets and Grocery Stores

Loan Approval Date

8/29/2002

Loan Approval Gross Amount

$147,000

Loan Approval from the SBA

Of the total $147,000 loan amount, the SBA guaranteed $73,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Iga Food Stores franchise. At the time of the loan, the company had 30 employees. The loan application indicated that the loan would help retain 30 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $147,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

The Art of Bootstrapping

Where to Get an SBA Loan in Columbus, Ohio

Ohio SBA 7A Lenders