Ohio Entrepreneur Secures Financing to Buy Subaru Franchise

Borrowing money to invest in a Subaru franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA.

Subaru franchise loans are available to Youngstown, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The Huntington National Bank, based in Toledo, Ohio, issued an SBA franchise loan for a Subaru franchise in 2005. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

BOARDMAN SUBARU
YOUNGSTOWN, OH 44512

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
519 MADISON AVE
TOLEDO, OH 43604

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

441110 - New Car Dealers

Loan Approval Date

8/18/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Subaru franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help generate 6 new jobs and retain 7 existing jobs.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Huntington National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Obtaining Funding - Getting Venture Capital

SBA Banks in Toledo, Ohio

Ohio SBA 7A Lenders