Ohio SBA Loan Issued to Eating Places Company

Searching for an Ohio small business loan? This Ohio entrepreneur got a small business loan, provided by an Ohio bank that works with the SBA to help small business owners.

Getting a small business loan in Genoa, Ohio was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Genoa Banking Company. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
GENOA, OH 43430

SBA Loan Lender

GENOA BANKING COMPANY
801-803 MAIN ST
GENOA, OH 43430

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/8/2005

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 7 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Genoa Banking Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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SBA Banks in Genoa, Ohio

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