Loan to Buy Partyland retail Party Goods Franchise Issued By Heartland Bank

Borrowing money to buy a Partyland retail Party Goods franchise? Heartland Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Partyland retail Party Goods franchise? If so, here's a 2005 SBA franchise loan that you should know about. Heartland Bank was the lender and the entrepreneur was based in Columbus, Ohio.

SBA Loan Borrower

PARTY LAND
COLUMBUS, OH 43240

SBA Loan Lender

HEARTLAND BANK
850 N HAMILTON RD
GAHANNA, OH 43230

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

7/22/2005

Loan Approval Gross Amount

$241,750

Loan Approval from the SBA

Of the total $241,750 loan amount, the SBA guaranteed $181,313.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Partyland retail Party Goods franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Heartland Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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