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May 3, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Indianapolis, Business Loans > National City Bank Indianapolis Business Loans > Eating Places Loan | ||||
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Get an SBA Loan for Full-Service RestaurantsLooking for loans for full-service restaurants? Talk to a banker who works with the SBA. This $138,500 full-service restaurants loan was issued by an Indiana bank. This company knew how to go about getting a business bank loan. Based in Cleveland, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was National City Bank, based in Indianapolis, Indiana. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender NATIONAL CITY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. 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 5/4/2001 Loan Approval Gross Amount $138,500 Loan Approval from the SBA Of the total $138,500 loan amount, the SBA guaranteed $117,725. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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 National City Bank 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: Where to Get an SBA Loan in Indianapolis, Indiana
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