Mansfield, OH Entrepreneur Gets SBA Loan to Buy Cartridge World Stores Franchise

Need money to invest in a Cartridge World Stores franchise? Firstmerit Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Cartridge World Stores franchise? If so, here's a 2005 SBA franchise loan that you should know about. Firstmerit Bank was the lender and the entrepreneur was based in Mansfield, Ohio.

SBA Loan Borrower

M & JLD, INC.
MANSFIELD, OH 44906

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453210 - Office Supplies and Stationery

Loan Approval Date

6/7/2005

Loan Approval Gross Amount

$144,300

Loan Approval from the SBA

Of the total $144,300 loan amount, the SBA guaranteed $122,655.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cartridge World Stores franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $144,300 loan. Remember, feel the fear, and do it anyway.

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:

Cartridge World

Determining Proper Capital Structure for a Business

SBA 7A Banks in Akron, Ohio

Ohio SBA 7A Lenders