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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Minerva, Business Loans > Consumers National Bank Minerva Business Loans > Eating Places Loan | ||||
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Consumers National Bank Business Loans
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Raising Money for Limited-Service RestaurantsLooking for business loans for limited-service restaurants? Talk to a banker who works with the SBA. This $105,000 limited-service restaurants loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bolivar, Ohio was able to borrow $105,000 from Consumers National Bank. The SBA made the loan possible by guaranteeing $89,250 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender CONSUMERS NATIONAL BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. 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 6/28/2002 Loan Approval Gross Amount $105,000 Loan Approval from the SBA Of the total $105,000 loan amount, the SBA guaranteed $89,250. 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. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Consumers National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Find an SBA Lender in Minerva, Ohio
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