Ohio Entrepreneur Secures Financing to Buy Battery Plus Franchise

Borrowing money to buy a Battery Plus franchise? Keybank National Association has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Battery Plus franchise is doable. In 2005, Keybank National Association issued an SBA franchise loan to an entrepreneur in Mayfield Heights, Ohio. Because Battery Plus was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

BATTERIES PLUS
MAYFIELD HEIGHTS, OH 44124

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

453998 - Store Retailers

Loan Approval Date

4/19/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Battery Plus franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Bank Credit Lines

SBA 7A Banks in Cleveland, Ohio

Getting an SBA Loan in Ohio