Loan to Buy Kentucky Fried Chicken Franchise Issued By 1st Cit. National Bank - Upper Sand

Need money to buy a Kentucky Fried Chicken franchise? 1st Cit. National Bank - Upper Sand has a history of making these loans and they are guaranteed by the SBA.

If you live near Tiffin, Ohio and are interested in buying a Kentucky Fried Chicken franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by 1st Cit. National Bank - Upper Sand. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

TIFFIN KFC
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 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

9/12/2003

Loan Approval Gross Amount

$837,000

Loan Approval from the SBA

Of the total $837,000 loan amount, the SBA guaranteed $627,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Kentucky Fried Chicken franchise. At the time of the loan, the company had 68 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st Cit. National Bank - Upper Sand and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

KFC Corporation

Alternative Financing

Good Banks for Small Business in Upper Sandusky, Ohio

Ohio SBA Bank Lenders