Cincinnati, OH Entrepreneur Gets SBA Loan to Buy Mio's Franchise

Borrowing money to invest in a Mio's franchise? Spring Valley Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Cincinnati, Ohio needed money to invest in a Mio's franchise back in 2004. Spring Valley Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

MIO'S PIZZA HYDE PARK
CINCINNATI, OH 45208

SBA Loan Lender

SPRING VALLEY BANK
1206 SPRINGFIELD PIKE
WYOMING, OH 45215

When this loan was made, the lender participated in the SBA's Certified Lenders Program (CLP). This program is designed to give expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/29/2004

Loan Approval Gross Amount

$215,000

Loan Approval from the SBA

Of the total $215,000 loan amount, the SBA guaranteed $161,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mio's franchise. At the time of the loan, the company had 25 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Spring Valley Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Role of Business Plan When Raising Money

Banks in Wyoming, Ohio

Ohio SBA Bank Lenders