Ohio Entrepreneur Secures Financing to Buy Arby's Franchise

Need money to buy an Arby's franchise? U.S. Bank National Association has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Hudson, Ohio needed money to invest in an Arby's franchise back in 2003. U.S. Bank National Association issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

ARBY'S
HUDSON, OH 44236

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/15/2003

Loan Approval Gross Amount

$759,000

Loan Approval from the SBA

Of the total $759,000 loan amount, the SBA guaranteed $569,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Arby's franchise. At the time of the loan, the company had 32 employees. The SBA loan documents indicated that the loan would help retain 32 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Arby's, LLC

The Friends and Family Network

Small Business Banks in Cincinnati, Ohio

Find an SBA Lender in Ohio