The Huntington National Bank Provides SBA Loan to Buy Zeppe's Franchise

Need a loan to buy a Zeppe's franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Chesterland, Ohio and are interested in buying a Zeppe's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by The Huntington National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

RAKICH GROUP, LLC
CHESTERLAND, OH 44026

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
108 MAIN AVE SW
WARREN, OH 44482

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.

SIC Code

5812 - Eating Places

Loan Approval Date

5/19/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Zeppe's franchise. At the time of the loan, the company had 14 employees. The loan application indicated that the loan would help generate 14 new jobs and retain 14 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Zeppe's Pizzeria

How to Raise Money

Small Business Banks in Warren, Ohio

Find an SBA Lender in Ohio