The Huntington National Bank Provides SBA Loan to Buy Sylvan Learning Center Franchise

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

If you live near Vienna, West Virginia and are interested in buying a Sylvan Learning Center franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by The Huntington National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SYLVAN LEARNING CENTER
VIENNA, WV 26105

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7575 HUNTINGTON PARK DR, STE
COLUMBUS, OH 43235

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8211 - Elementary and Secondary Schools

NAICS Code

611110 - Elementary and Secondary Schools

Loan Approval Date

9/4/2002

Loan Approval Gross Amount

$301,000

Loan Approval from the SBA

Of the total $301,000 loan amount, the SBA guaranteed $225,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sylvan Learning Center franchise. At the time of the loan, the company had 16 employees. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $301,000 loan. Remember, things become real when you believe you can achieve them!

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:

Sylvan Learning Center

SBIR Funding

Where to Get an SBA Loan in Columbus, Ohio

Where to Get an SBA Loan Ohio