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May 2, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Eating Places Loan | ||||
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How to Get SBA Money in Waverly, Ohio
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Stearns Bank Gives SBA Loan to Eating Places CompanyOhioSmall business loans are available to Ohio small business owners through the SBA. In this case, a Minnesota bank provides the loan. This company, based in Waverly, Ohio, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Stearns Bank. We've got the inside scoop on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender STEARNS BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 2/13/2006 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. 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 12 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Banks in Saint Cloud, Minnesota
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