Warren, Ohio Bank Gives SBA Loan to Full-Service Restaurants Company

Get small business loans from a Warren, Ohio bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

First Place Bank is a Warren, Ohio small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Michigan company.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LANSING, MI 48906

SBA Loan Lender

FIRST PLACE BANK
185 E MARKET ST
WARREN, OH 44481

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/14/2007

Loan Approval Gross Amount

$127,000

Loan Approval from the SBA

Of the total $127,000 loan amount, the SBA guaranteed $107,950.

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 loan application indicated that the loan would help retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, 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.

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Accountant's Role in Securing Financing

Banks in Warren, Ohio

SBA Lenders in Ohio