Loan Census Banking News and Information
May 28, 2023  
 
 
  Business Loan Information  
 

Orangeville, Ohio Bank Loan

 

 
Loan Census SBA Loan Info

Business Loans for Full-Service Restaurants

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $131,500 was given to an Ohio entrepreneur in 2002.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with National City Bank, out of Pittsburgh, Pennsylvania. The loan was granted and they received $131,500 to help grow their Orangeville, Ohio business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ORANGEVILLE, OH 44453

SBA Loan Lender

NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

1/28/2002

Loan Approval Gross Amount

$131,500

Loan Approval from the SBA

Of the total $131,500 loan amount, the SBA guaranteed $111,775.

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. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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