Snack and Nonalcoholic Beverage Bars Commercial Loans

With these commercial loans for snack and nonalcoholic beverage bars, the SBA guarantees the lender that the loan will be repaid. This snack and nonalcoholic beverage bars loan for $150,000 was given to an Ohio entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cleveland Heights, Ohio was able to borrow $150,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $127,500 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
CLEVELAND HEIGHTS, OH 44106

SBA Loan Lender

FIFTH THIRD BANK
600 SUPERIOR AVE EAST
CLEVELAND, OH 44114

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

6/2/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

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SBA Approved Banks in Cleveland, Ohio

Ohio SBA Bank Lenders