Ohio Entrepreneur Secures Financing to Buy Perkins Restaurants Franchise

Need money to buy a Perkins Restaurants franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Troy, Ohio needed money to invest in a Perkins Restaurants franchise back in 2000. The Huntington National Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

J8 HAMMER INC
TROY, OH 45372

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
422 MAIN ST
ZANESVILLE, OH 43702

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

4/17/2000

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Perkins Restaurants franchise. At the time of the loan, the company had 53 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 53 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Troy OH, you ought to talk with a local Troy SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Troy businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Huntington National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Huntington National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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