Tiffin, OH Entrepreneur Gets SBA Loan to Buy Long John Silver's Franchise

Need money to purchase a Long John Silver's franchise? 1st Cit. National Bank - Upper Sand has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Long John Silver's franchise shouldn't be too tough. In 2005, 1st Cit. National Bank - Upper Sand issued an SBA franchise loan to an entrepreneur in Tiffin, Ohio. Because Long John Silver's was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

LONG JOHN SILVER'S
TIFFIN, OH 44883

SBA Loan Lender

1ST CIT. NATIONAL BANK - UPPER SAND
100 N SANDUSKY AVE
UPPER SANDUSKY, OH 43351

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/22/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Long John Silver's franchise. At the time of the loan, the company had 68 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like 1st Cit. National Bank - Upper Sand 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:

Long John Silver's Restaurants, Inc.

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