Loan to Buy Johnny's Lunch Franchise Issued By First Place Bank

Borrowing money to buy a Johnny's Lunch franchise? First Place Bank has a history of making these loans and they are guaranteed by the SBA.

Johnny's Lunch franchise loans are available to Novi, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Place Bank, based in Warren, Ohio, issued an SBA franchise loan for a Johnny's Lunch franchise in 2007. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

JOHNNY'S LUNCH
NOVI, MI 48377

SBA Loan Lender

FIRST PLACE BANK
185 E MARKET ST
WARREN, OH 44481

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722211 - Limited-Service Restaurants

Loan Approval Date

9/5/2007

Loan Approval Gross Amount

$325,800

Loan Approval from the SBA

Of the total $325,800 loan amount, the SBA guaranteed $162,900.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Johnny's Lunch franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 27 new jobs and retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

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 $325,800 loan. Remember, you control your own destiny.

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:

Johnny's Lunch

The Friends and Family Network

Good Banks for Small Business in Warren, Ohio

Ohio SBA Bank Lenders