Mason, OH Entrepreneur Gets SBA Loan to Buy Popeye's Famous Fried Chicken Franchise

Need money to buy a Popeye's Famous Fried Chicken franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mason, Ohio needed money to invest in a Popeye's Famous Fried Chicken franchise back in 2004. Pnc Bank, National Association issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

SCARIATO FAMILY ENTERPRISES IN
MASON, OH 45040

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/25/2004

Loan Approval Gross Amount

$1,230,000

Loan Approval from the SBA

Of the total $1,230,000 loan amount, the SBA guaranteed $922,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Popeye's Famous Fried Chicken franchise. At the time of the loan, the company had 80 employees. The SBA loan documents indicated that the loan would help generate 130 new jobs and retain 210 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Pnc Bank, National Association are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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Where to Get an SBA Loan Pennsylvania