Heartland Bank Provides SBA Loan to Buy Learning Express Franchise

Need a loan to purchase a Learning Express franchise? Heartland Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in New Albany, Ohio needed money to invest in a Learning Express franchise back in 2001. Heartland Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

LEARNING EXPRESS TOY STORE
NEW ALBANY, OH 43054

SBA Loan Lender

HEARTLAND BANK
6887 E MAIN ST
REYNOLDSBURG, OH 43068

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5945 - Hobby, Toy, and Game Shops

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

6/12/2001

Loan Approval Gross Amount

$146,000

Loan Approval from the SBA

Of the total $146,000 loan amount, the SBA guaranteed $124,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Learning Express franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Heartland Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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