How to Get a Loan for Caterers

With these business loans for caterers, the SBA guarantees the lender that the loan will be repaid. This caterers loan for $511,500 was given to an Ohio entrepreneur in 2005.

Getting a small business loan in Cleveland, Ohio was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from National City Bank, operating out of Cleveland, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: CATERERS
CLEVELAND, OH 44113

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722320 - Caterers

Loan Approval Date

5/24/2005

Loan Approval Gross Amount

$511,500

Loan Approval from the SBA

Of the total $511,500 loan amount, the SBA guaranteed $383,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 165 employees. The SBA loan documents indicated that the loan would help generate 25 new jobs and retain 165 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Cleveland or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Equity Financing

SBA Participating Banks in Cleveland, Ohio

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