Ohio Entrepreneur Secures Financing to Buy Goddard Early Learning Center Franchise

Need a loan to invest in a Goddard Early Learning Center franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Dublin, Ohio and are interested in buying a Goddard Early Learning Center franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by The Huntington National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

THE GODDARD SCHOOL
DUBLIN, OH 43016

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
6851 N HIGH ST
WORTHINGTON, OH 43085

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

6/17/2002

Loan Approval Gross Amount

$288,400

Loan Approval from the SBA

Of the total $288,400 loan amount, the SBA guaranteed $216,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Goddard Early Learning Center franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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Getting an SBA Loan in Ohio