Ohio Entrepreneur Secures Financing to Buy Handel's Ice Cream Franchise

Need a loan to invest in a Handel's Ice Cream franchise? Firstmerit Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Handel's Ice Cream franchise requires some effort but others before you have been successful. In 2004, Firstmerit Bank issued an SBA franchise loan to an entrepreneur in Uniontown, Ohio. Because Handel's Ice Cream was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

HANDEL'S ICE CREAM
UNIONTOWN, OH 44685

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

2/25/2004

Loan Approval Gross Amount

$337,000

Loan Approval from the SBA

Of the total $337,000 loan amount, the SBA guaranteed $252,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Handel's Ice Cream franchise. At the time of the loan, the company had 32 employees. The SBA loan documents indicated that the loan would help generate 30 new jobs and retain 2 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Firstmerit Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Handel's Ice Cream

How Much Venture Capital Is There?

Best Banks in Akron, Ohio

Getting an SBA Loan in Ohio