Pikerington, OH Entrepreneur Gets SBA Loan to Buy Actional International Franchise

Borrowing money to purchase an Actional International franchise? The Park National Bank has a history of making these loans and they are guaranteed by the SBA.

Actional International franchise loans are available to Pikerington, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The Park National Bank, based in Newark, Ohio, issued an SBA franchise loan for an Actional International franchise in 2001. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

ACTION INTERNATIONAL
PIKERINGTON, OH 43147

SBA Loan Lender

THE PARK NATIONAL BANK
50 N 3RD ST
NEWARK, OH 43055

This lender issued this particular commercial 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

7389 - Business Services

NAICS Code

561499 - Business Support Services

Loan Approval Date

3/21/2001

Loan Approval Gross Amount

$122,580

Loan Approval from the SBA

Of the total $122,580 loan amount, the SBA guaranteed $104,193.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Actional International franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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.

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