Ohio Entrepreneur Secures Financing to Buy General Nutrition Center Franchise

Need a loan to purchase a General Nutrition Center franchise? Firstmerit Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a General Nutrition Center franchise? If so, here's a 2002 SBA franchise loan that you should know about. Firstmerit Bank was the lender and the entrepreneur was based in Bainbridge, Ohio.

SBA Loan Borrower

GENERAL NUTRITION CENTER
BAINBRIDGE, OH 44060

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

10/17/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a General Nutrition Center franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Firstmerit Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

General Nutrition Centers / GNC Live Well

Borrowing Money from Friends and Family

Small Business Banks in Akron, Ohio

Ohio SBA 7A Banks