Business Loan from The Huntington National Bank Given to Full-Service Restaurants Company

An SBA loan from The Huntington National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cleveland, Ohio business owner got a $210,500 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cleveland, Ohio was able to borrow $210,500 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $105,250 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CLEVELAND, OH 44120

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/15/2003

Loan Approval Gross Amount

$210,500

Loan Approval from the SBA

Of the total $210,500 loan amount, the SBA guaranteed $105,250.

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 only one employee. The SBA loan documents indicated that the funding would help create 40 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Huntington National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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