American National Bank SBA Loan to Limited-Service Restaurants Company
An SBA loan from American 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 $225,000 loan.
This business knew how to go about getting a business bank loan. Based in Cleveland, Ohio, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was American National Bank, based in Parma, Ohio.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CLEVELAND, OH 44113
SBA Loan Lender
AMERICAN NATIONAL BANK
5603 RIDGE RD
PARMA, OH 44129
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
10/30/2002
Loan Approval Gross Amount
$225,000
Loan Approval from the SBA
Of the total $225,000 loan amount, the SBA guaranteed $168,750.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide money to small business owners for working capital for other expenses.
This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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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