Ohio Entrepreneur Secures Financing to Buy Cornwell Quality Tool Company,Inc Franchise

Need a loan to invest in a Cornwell Quality Tool Company,Inc franchise? First Finan Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Hamilton, Ohio and are interested in buying a Cornwell Quality Tool Company,Inc franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by First Finan Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

CORNWELL TOOL
HAMILTON, OH 45013

SBA Loan Lender

FIRST FINAN BANK
815 S BREIEL BLVD
MIDDLETOWN, OH 45044

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5013 - Motor Vehicle Supplies and New Parts

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

5/23/2003

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cornwell Quality Tool Company,Inc franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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 Middletown, Ohio

Find an SBA Lender in Ohio