Getting an SBA Loan for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? The SBA may be the answer. This $125,000 full-service restaurants loan was issued by an Ohio bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cleveland, Ohio was able to borrow $125,000 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $106,250 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CLEVELAND, OH 44106

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
108 MAIN AVE SW
WARREN, OH 44482

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/20/2002

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 30 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Cleveland OH, you ought to talk with a local Cleveland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cleveland businesses.

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:

Startup Funding Tip

Small Bank Loans in Warren, Ohio

Ohio SBA 7A Lenders