Limited-Service Restaurants Small Business Loans

Looking for small business loans for limited-service restaurants? The SBA may be the answer. This $90,000 limited-service restaurants loan was issued by an Ohio bank.

This company knew how to go about getting a business bank loan. Based in Columbus Grove, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Cit. National Bank - Bluffton, based in Bluffton, Ohio.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
COLUMBUS GROVE, OH 45830

SBA Loan Lender

CIT. NATIONAL BANK - BLUFFTON
102 S MAIN ST
BLUFFTON, OH 45817

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/22/2004

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Cit. National Bank - Bluffton so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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