Loan to Buy Huntington Learning Center Franchise Issued By State Bank Northwest

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

Getting money to buy a Huntington Learning Center franchise requires some effort but others before you have been successful. In 2003, State Bank Northwest issued an SBA franchise loan to an entrepreneur in Spokane, Washington. Because Huntington Learning Center was registered with the SBA's registry of franchises, this Washington small business loan was issued on an expedited basis.

SBA Loan Borrower

HUNTINGTON LEARNING CENTER
SPOKANE, WA 99216

SBA Loan Lender

STATE BANK NORTHWEST
12902 E SPRAGUE AVE
SPOKANE, WA 99216

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program requires 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.

NAICS Code

611691 - Exam Preparation and Tutoring

Loan Approval Date

12/31/2003

Loan Approval Gross Amount

$126,000

Loan Approval from the SBA

Of the total $126,000 loan amount, the SBA guaranteed $107,100.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Huntington Learning Center franchise. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like State Bank Northwest are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Huntington Learning Center, Inc.

Bank Credit Lines

Good Banks for Small Business in Spokane, Washington

Getting an SBA Loan in Washington