Financing 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 $993,000 was given to an Ohio entrepreneur in 2005.

Getting a small business loan in Cincinnati, Ohio was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Spring Valley Bank, operating out of Wyoming, Ohio. Here are the details on 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 loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

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

1/27/2005

Loan Approval Gross Amount

$993,000

Loan Approval from the SBA

Of the total $993,000 loan amount, the SBA guaranteed $744,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 34 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Spring Valley Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Spring Valley Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Realistic Debt Financing Options

SBA 7A Banks in Wyoming, Ohio

SBA Participating Banks in Ohio