Drinking Places Commercial Loans

Looking for commercial loans for drinking places? An SBA loan may be just what you've been looking for. This $153,500 drinking places loan was issued by an Ohio bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with The Huntington National Bank, out of Columbus, Ohio. The loan was granted and they received $153,500 to help grow their Columbus, Ohio business.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
COLUMBUS, OH 43228

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722410 - Drinking Places

Loan Approval Date

4/4/2003

Loan Approval Gross Amount

$153,500

Loan Approval from the SBA

Of the total $153,500 loan amount, the SBA guaranteed $76,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Columbus OH, you ought to talk with a local Columbus SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Columbus businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

How Equity Dilution Works

Find an SBA Lender in Columbus, Ohio

SBA Participating Banks in Ohio