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April 28, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cleveland, Business Loans > The Huntington National Bank Cleveland Business Loans > Eating Places Loan | ||||
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Ohio SBA Loan from The Huntington National Bank
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Business Loan from The Huntington National Bank Given to Eating Places CompanyThe Huntington National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Ohio entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with The Huntington National Bank, out of Cleveland, Ohio. The loan was granted and they received $173,800 to help grow their Sandusky, Ohio business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender THE HUNTINGTON NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. 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 2/8/2000 Loan Approval Gross Amount $173,800 Loan Approval from the SBA Of the total $173,800 loan amount, the SBA guaranteed $130,350. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 70 employees. This SBA loan request indicated that the borrowed money would help create 70 new jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $173,800 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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:
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