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February 1, 2025 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Youngstown, Business Loans > Home Savings & Loan Co - Youn Youngstown Business Loans > Seifert Minuteman Press Co. Loan | ||||
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How Much Does It Cost to Buy a Franchise in Youngstown, Ohio?
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Youngstown, OH Entrepreneur Gets SBA Loan to Buy Minuteman Press FranchiseBorrowing money to buy a Minuteman Press franchise? Home Savings & Loan Co - Youn has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Minuteman Press franchise may simply require a phone call to a local SBA banker. In 2007, Home Savings & Loan Co - Youn issued an SBA franchise loan to an entrepreneur in Youngstown, Ohio. Because Minuteman Press was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis. SBA Loan Borrower SEIFERT MINUTEMAN PRESS CO. SBA Loan Lender HOME SAVINGS & LOAN CO - YOUN SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 323110 - Commercial Lithographic Printing Loan Approval Date 4/13/2007 Loan Approval Gross Amount $174,500 Loan Approval from the SBA Of the total $174,500 loan amount, the SBA guaranteed $130,875. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Minuteman Press franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Minuteman Press International, Inc. SBA Participating Banks in Youngstown, Ohio
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