Granger, IN Entrepreneur Gets SBA Loan to Buy Samuel Mancino's Italian Eatery Franchise

Need a loan to purchase a Samuel Mancino's Italian Eatery franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Granger, Indiana and are interested in buying a Samuel Mancino's Italian Eatery franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by National City Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

THE PITT STOP INC
GRANGER, IN 46530

SBA Loan Lender

NATIONAL CITY BANK
101 W WASHINGTON ST # 100 E
INDIANAPOLIS, IN 46255

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/25/2001

Loan Approval Gross Amount

$97,000

Loan Approval from the SBA

Of the total $97,000 loan amount, the SBA guaranteed $82,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Samuel Mancino's Italian Eatery franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National City 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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