Ohio Entrepreneur Secures Financing to Buy Gold Star Chili Franchise

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

Getting money to buy a Gold Star Chili franchise shouldn't be too tough. In 2007, First Chatham Bank issued an SBA franchise loan to an entrepreneur in Cincinnati, Ohio. Because Gold Star Chili was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

GOLD STAR CHILI
CINCINNATI, OH 45205

SBA Loan Lender

FIRST CHATHAM BANK
111 BARNARD ST
SAVANNAH, GA 31401

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/19/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Gold Star Chili franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Cincinnati OH, you ought to talk with a local Cincinnati SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cincinnati businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Chatham Bank 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:

Gold Star Chili, Inc.

Find Start-Up Capital

Who Lends Money to Small Businesses in Savannah, Georgia

SBA Participating Banks in Georgia