Commercial Loans for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $252,000 limited-service restaurants loan was issued by an Ohio bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with United Midwest Savings Bank, out of Bellefontaine, Ohio. The loan was granted and they received $252,000 to help grow their Gardner, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
GARDNER, MA 01440

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
2281 S MAIN ST
BELLEFONTAINE, OH 43311

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/17/2004

Loan Approval Gross Amount

$252,000

Loan Approval from the SBA

Of the total $252,000 loan amount, the SBA guaranteed $189,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $252,000. How would you spend $252,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Bellefontaine, Ohio

SBA Participating Banks in Ohio