Loan to Buy Postal Connections Of America Franchise Issued By National City Bank

Borrowing money to buy a Postal Connections Of America franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Postal Connections Of America franchise may simply require a phone call to a local SBA banker. In 2003, National City Bank issued an SBA franchise loan to an entrepreneur in Streetsboro, Ohio. Because Postal Connections Of America was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

THE RHODES GROUP INC
STREETSBORO, OH 44241

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

491110 - Postal Service

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $65,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Postal Connections Of America franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the borrowed money would help create 4 new jobs.

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Postal Connections of America

Financing Your Business

Where to Get an SBA Loan in Cleveland, Ohio

Getting an SBA Loan in Ohio