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April 28, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Columbus, Business Loans > The Huntington National Bank Columbus Business Loans > Dandrea, LLC Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Hilliard, OH Entrepreneur Gets SBA Loan to Buy Sports Clips FranchiseBorrowing money to purchase a Sports Clips franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Hilliard, Ohio needed money to invest in a Sports Clips franchise back in 2007. The Huntington National Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan. SBA Loan Borrower DANDREA, LLC SBA Loan Lender THE HUNTINGTON NATIONAL BANK 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 812111 - Barber Shops Loan Approval Date 3/15/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Sports Clips franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. We've showcased information on this loan to let you know that businesses like yours 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: Role of Business Plan When Raising Money SBA Approved Banks in Columbus, Ohio
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