The Huntington National Bank Provides SBA Loan to Buy Play It Again Sports retail Sports Franchise

Borrowing money to buy a Play It Again Sports retail Sports franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Lafayette, Indiana needed money to invest in a Play It Again Sports retail Sports franchise back in 2002. The Huntington National Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan.

SBA Loan Borrower

PLAY IT AGAIN SPORTS
LAFAYETTE, IN 47904

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

12/10/2002

Loan Approval Gross Amount

$129,000

Loan Approval from the SBA

Of the total $129,000 loan amount, the SBA guaranteed $96,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Play It Again Sports retail Sports franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the funding would help generate 4 new jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Play It Again Sports

Getting a Small Business Loan

Small Business Banks in Columbus, Ohio

Ohio SBA 7A Lenders