Indianapolis, IN Entrepreneur Gets SBA Loan to Buy Blimpie Franchise

Need money to invest in a Blimpie franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Blimpie franchise loans are available to Indianapolis, Indiana entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, National City Bank, based in Indianapolis, Indiana, issued an SBA franchise loan for a Blimpie franchise in 2002. We've got all the details on this Indiana small business loan.

SBA Loan Borrower

JOHN R. BLACK INC & PATEK ICE
INDIANAPOLIS, IN 46237

SBA Loan Lender

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

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

4/24/2002

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 1 existing job.

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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