Wooster, OH Entrepreneur Gets SBA Loan to Buy Candy Bouquet,Inc Franchise

Borrowing money to invest in a Candy Bouquet,Inc franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Candy Bouquet,Inc franchise loans are available to Wooster, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, National City Bank, based in Orrville, Ohio, issued an SBA franchise loan for a Candy Bouquet,Inc franchise in 2001. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

CANDY BOUQUET
WOOSTER, OH 44691

SBA Loan Lender

NATIONAL CITY BANK
101 W MARKET ST
ORRVILLE, OH 44667

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2064 - Candy and Other Confectionery Products

NAICS Code

311330 - Confectionery Manufacturing from Purchased Chocolate

Loan Approval Date

8/23/2001

Loan Approval Gross Amount

$31,500

Loan Approval from the SBA

Of the total $31,500 loan amount, the SBA guaranteed $26,775.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Candy Bouquet,Inc franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Wooster OH, you ought to talk with a local Wooster SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wooster businesses.

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 National City Bank 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:

Candy Bouquet

Dealing With Venture Capitalists

SBA Approved Banks in Orrville, Ohio

SBA Participating Banks in Ohio