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April 30, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cleveland, Business Loans > Shorebank Cleveland Business Loans > Donato's Pizza Loan | ||||
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Lakewood, Ohio Bank for SBA Loans
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Loan to Buy Donatos Pizza Franchise Issued By ShorebankNeed a loan to buy a Donatos Pizza franchise? Shorebank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Lakewood, Ohio needed money to invest in a Donatos Pizza franchise back in 2005. Shorebank issued an SBA franchise loan. Here are the details on this Ohio small business loan. SBA Loan Borrower DONATO'S PIZZA SBA Loan Lender SHOREBANK This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/21/2005 Loan Approval Gross Amount $507,000 Loan Approval from the SBA Of the total $507,000 loan amount, the SBA guaranteed $380,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Donatos Pizza franchise. At the time of the loan, the company had 27 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Shorebank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA 7A Banks for Cleveland, Ohio Loans Browse All Business Loan Sources for Ohio
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