Ohio Entrepreneur Secures Financing to Buy White House Chicken Franchise

Borrowing money to purchase a White House Chicken franchise? Firstmerit Bank has a history of making these loans and they are guaranteed by the SBA.

White House Chicken franchise loans are available to Tallmadge, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Firstmerit Bank, based in Akron, Ohio, issued an SBA franchise loan for a White House Chicken franchise in 2003. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

WHITE HOUSE CHICKEN
TALLMADGE, OH 44278

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/22/2003

Loan Approval Gross Amount

$281,800

Loan Approval from the SBA

Of the total $281,800 loan amount, the SBA guaranteed $211,350.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a White House Chicken franchise. At the time of the loan, the company had 13 employees. The SBA loan documents indicated that the loan would help generate 57 new jobs and retain 13 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Borrowing Money from Friends and Family

SBA Approved Banks in Akron, Ohio

Getting an SBA Loan in Ohio