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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Dayton, Business Loans > Fifth Third Bank Dayton Business Loans > Limited-Service Restaurants Loan | ||||
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Raising Money in Arcanum, Ohio With SBA Loans
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Limited-Service Restaurants SBA LoansLooking for SBA loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $121,500 limited-service restaurants loan was issued by an Ohio bank. This small business knew how to go about getting a business bank loan. Based in Arcanum, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Fifth Third Bank, based in Dayton, Ohio. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender FIFTH THIRD BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/19/2004 Loan Approval Gross Amount $121,500 Loan Approval from the SBA Of the total $121,500 loan amount, the SBA guaranteed $103,275. 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. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Fifth Third Bank and they will explain how you can get an SBA loan for your company. 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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