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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Warren, Business Loans > The Huntington National Bank Warren Business Loans > Blimpie Subs & Salads Loan | ||||
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Raising Money in Medina, Ohio With SBA Loans
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Medina, OH Entrepreneur Gets SBA Loan to Buy Blimpie FranchiseNeed money to buy a Blimpie franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Medina, Ohio and are interested in buying a Blimpie franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by The Huntington National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower BLIMPIE SUBS & SALADS SBA Loan Lender THE HUNTINGTON NATIONAL BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 7/23/2002 Loan Approval Gross Amount $92,000 Loan Approval from the SBA Of the total $92,000 loan amount, the SBA guaranteed $78,200. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 $92,000 loan. Remember, fight for what you want, and it will be yours! 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: Small Business Banks in Warren, Ohio
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