Ohio Entrepreneur Secures Financing to Buy Gold Star Chili Franchise

Need a loan to buy a Gold Star Chili franchise? Riverhills Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Gold Star Chili franchise? If so, here's a 2007 SBA franchise loan that you should know about. Riverhills Bank was the lender and the entrepreneur was based in Batavia, Ohio.

SBA Loan Borrower

GOLD STAR CHILI-BATAVIA
BATAVIA, OH 45103

SBA Loan Lender

RIVERHILLS BANK
110 FRONT ST
NEW RICHMOND, OH 45157

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/26/2007

Loan Approval Gross Amount

$865,000

Loan Approval from the SBA

Of the total $865,000 loan amount, the SBA guaranteed $648,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Gold Star Chili franchise. At the time of the loan, the company had 17 employees. This SBA loan request indicated that the loan would help generate 9 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Batavia or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Gold Star Chili, Inc.

Dealing With Venture Capitalists

Best New Richmond, Ohio Banks for Small Business

Browse All Business Loan Sources for Ohio