Loans for Full-Service Restaurants

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $246,800 was given to an Ohio entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Cincinnati, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was The Huntington National Bank, based in Columbus, Ohio.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Cincinnati, OH 45209

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

12/19/2005

Loan Approval Gross Amount

$246,800

Loan Approval from the SBA

Of the total $246,800 loan amount, the SBA guaranteed $123,400.

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 35 employees. The SBA loan documents indicated that the loan would help retain 35 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Raising Venture Capital

SBA Participating Banks in Columbus, Ohio

SBA Ohio Lenders