Ohio Entrepreneur Secures Financing to Buy Samuel Mancino's Italian Eatery Franchise

Borrowing money to invest in a Samuel Mancino's Italian Eatery franchise? First Fed. Bank - Midwest has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Samuel Mancino's Italian Eatery franchise shouldn't be overly burdensome. In 2004, First Fed. Bank - Midwest issued an SBA franchise loan to an entrepreneur in Defiance, Ohio. Because Samuel Mancino's Italian Eatery was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

SAMUEL MANCINO'S ITALIAN EATER
DEFIANCE, OH 43512

SBA Loan Lender

FIRST FED. BANK - MIDWEST
601 CLINTON ST
DEFIANCE, OH 43512

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/28/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Samuel Mancino's Italian Eatery franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Defiance OH, you ought to talk with a local Defiance SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Defiance businesses.

We've showcased information on this loan to let you know that businesses like yours 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:

Accountant's Role in Securing Financing

SBA Approved Banks in Defiance, Ohio

Ohio SBA Bank Lenders