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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Defiance, Business Loans > First Fed. Bank - Midwest Defiance Business Loans > Big Apple Bagels Loan | ||||
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Defiance, Ohio Bank Loan
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Borrow Money to Buy a Big Apple Bagels FranchiseBorrowing money to purchase a Big Apple Bagels franchise? First Fed. Bank - Midwest has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Defiance, Ohio needed money to invest in a Big Apple Bagels franchise back in 2002. First Fed. Bank - Midwest issued an SBA franchise loan. Here are the details on this Ohio small business loan. SBA Loan Borrower BIG APPLE BAGELS SBA Loan Lender FIRST FED. BANK - MIDWEST This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. 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 4/22/2002 Loan Approval Gross Amount $116,000 Loan Approval from the SBA Of the total $116,000 loan amount, the SBA guaranteed $98,600. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Big Apple Bagels franchise. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. 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 $116,000 loan. Remember, you control your own destiny. 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:
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