Ohio Entrepreneur Secures Financing to Buy Ident-A-Kid Franchise

Need a loan to invest in an Ident-A-Kid franchise? Firstmerit Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Wadsworth, Ohio needed money to invest in an Ident-A-Kid franchise back in 2004. Firstmerit Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

IDENT-A-KID SERVICES OF AMERIC
WADSWORTH, OH 44281

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541922 - Commercial Photography

Loan Approval Date

3/18/2004

Loan Approval Gross Amount

$43,000

Loan Approval from the SBA

Of the total $43,000 loan amount, the SBA guaranteed $36,550.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Ident-A-Kid 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 promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Firstmerit Bank and they will explain how you can get an SBA loan for your company.

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:

IDENT-A-Kid Services of America, Inc.

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