Ncb, Fsb Provides SBA Loan to Buy Ranch 1 Group Franchise

Need money to buy a Ranch 1 Group franchise? Ncb, Fsb has a history of making these loans and they are guaranteed by the SBA.

Ranch 1 Group franchise loans are available to Poughkeepsie, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Ncb, Fsb, based in Hillsboro, Ohio, issued an SBA franchise loan for a Ranch 1 Group franchise in 2001. We've got all the details on this New York small business loan.

SBA Loan Borrower

RANCH 1 GROUP, INC.
POUGHKEEPSIE, NY 12601

SBA Loan Lender

NCB, FSB
139 S HIGH ST
HILLSBORO, OH 45133

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

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

6/26/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Ranch 1 Group franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ncb, Fsb had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ncb, Fsb made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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Ranch*1

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Ohio SBA 7A Banks