Bank Loans for Limited-Service Restaurants

Looking for bank loans for limited-service restaurants? Try the SBA. This $170,400 limited-service restaurants loan was issued by an Ohio bank.

This company knew how to go about getting a business bank loan. Based in Centerburg, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Heartland Bank, based in Grove City, Ohio.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CENTERBURG, OH 43011

SBA Loan Lender

HEARTLAND BANK
2365 OLD STRINGTOWN RD
GROVE CITY, OH 43123

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/10/2001

Loan Approval Gross Amount

$170,400

Loan Approval from the SBA

Of the total $170,400 loan amount, the SBA guaranteed $127,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Heartland Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Heartland Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Bank Credit Lines

SBA Approved Banks in Grove City, Ohio

Ohio SBA Bank Lenders