Rocky River, OH Entrepreneur Gets SBA Loan to Buy Sylvan Learning Center Franchise

Borrowing money to buy a Sylvan Learning Center franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sylvan Learning Center franchise may simply require a phone call to a local SBA banker. In 2000, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in Rocky River, Ohio. Because Sylvan Learning Center was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

SYLVAN LEARNING CENTER
ROCKY RIVER, OH 44116

SBA Loan Lender

FIFTH THIRD BANK
600 SUPERIOR AVE EAST
CLEVELAND, OH 44114

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8211 - Elementary and Secondary Schools

NAICS Code

611110 - Elementary and Secondary Schools

Loan Approval Date

7/14/2000

Loan Approval Gross Amount

$190,000

Loan Approval from the SBA

Of the total $190,000 loan amount, the SBA guaranteed $142,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sylvan Learning Center franchise. At the time of the loan, the company had 35 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Rocky River OH, you ought to talk with a local Rocky River SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rocky River businesses.

This SBA loan was for $190,000. How would you spend $190,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Sylvan Learning Center

Direct Public Offerings

SBA Banks in Cleveland, Ohio

Ohio SBA 7A Lenders