Hillsboro, OH Entrepreneur Gets SBA Loan to Buy Ponderosa Steak House Franchise

Need money to buy a Ponderosa Steak House franchise? Merchants National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Ponderosa Steak House franchise shouldn't be overly burdensome. In 2005, Merchants National Bank issued an SBA franchise loan to an entrepreneur in Hillsboro, Ohio. Because Ponderosa Steak House was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

HILLSBORO PONDEROSA STEAKHOUSE
HILLSBORO, OH 45133

SBA Loan Lender

MERCHANTS NATIONAL BANK
100 N HIGH ST
HILLSBORO, OH 45133

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

3/17/2005

Loan Approval Gross Amount

$415,000

Loan Approval from the SBA

Of the total $415,000 loan amount, the SBA guaranteed $311,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Ponderosa Steak House franchise. At the time of the loan, the company had 80 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Merchants National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Ponderosa Steak House

Direct Public Offerings

Best Hillsboro, Ohio Banks for Small Business

SBA Participating Banks in Ohio