Borrowing Money for Full-Service Restaurants

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $100,000 was given to an Ohio entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cincinnati, Ohio was able to borrow $100,000 from Spring Valley Bank. The SBA made the loan possible by guaranteeing $75,000 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CINCINNATI, OH 45102

SBA Loan Lender

SPRING VALLEY BANK
1206 SPRINGFIELD PIKE
WYOMING, OH 45215

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/27/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $75,000.

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 33 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

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:

Getting a Small Business Loan

Small Business Banks in Wyoming, Ohio

Ohio SBA Banks