Loan to Buy Mio's Franchise Issued By Centerbank

Borrowing money to purchase a Mio's franchise? Centerbank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Cincinnati, Ohio needed money to invest in a Mio's franchise back in 2003. Centerbank issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

MIO'S PIZZA OF CINCINNATI LLC
CINCINNATI, OH 45255

SBA Loan Lender

CENTERBANK
744 STATE RTE 28
MILFORD, OH 45150

At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program was created to ensure fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

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

4/3/2003

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mio's franchise. At the time of the loan, the company had 30 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Obtaining Funding - How to Borrow Money

Best Milford, Ohio Banks for Small Business

Find an SBA Lender in Ohio