1st Cit. National Bank - Upper Sand SBA Loan to Eating Places Company

Searching for an Ohio business loan? Here's one Ohio business loan that was approved by the SBA.

This up and coming company knew how to go about getting a business bank loan. Based in Bucyrus, Ohio, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was 1st Cit. National Bank - Upper Sand, based in Upper Sandusky, Ohio.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
BUCYRUS, OH 44820

SBA Loan Lender

1ST CIT. NATIONAL BANK - UPPER SAND
100 N SANDUSKY AVE
UPPER SANDUSKY, OH 43351

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

9/1/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st Cit. National Bank - Upper Sand that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Dealing With Venture Capitalists

Find an SBA Lender in Upper Sandusky, Ohio

SBA Lenders in Ohio