Ohio Small Business Loan Issued to Drinking Places Company

OhioBusiness loans are available to Ohio business owners through the SBA. In this case, an Ohio bank provides the loan.

You can learn something about getting a small business loan in Sandusky, Ohio by studying this loan to a local business, made back in 2008. Banks like The Citizens Banking Company may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
SANDUSKY, OH 44870

SBA Loan Lender

THE CITIZENS BANKING COMPANY
100 E WATER ST
SANDUSKY, OH 44870

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

722410 - Drinking Places

Loan Approval Date

1/24/2008

Loan Approval Gross Amount

$142,500

Loan Approval from the SBA

Of the total $142,500 loan amount, the SBA guaranteed $71,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Citizens Banking Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Equity Financing

Who Lends Money to Small Businesses in Sandusky, Ohio

Ohio SBA Banks