1st Cit. National Bank - Upper Sand SBA Loan to Limited-Service Restaurants Company

An SBA loan from 1st Cit. National Bank - Upper Sand typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lewis Center, Ohio business owner got a $91,500 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lewis Center, Ohio was able to borrow $91,500 from 1st Cit. National Bank - Upper Sand. The SBA made the loan possible by guaranteeing $77,775 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LEWIS CENTER, OH 43035

SBA Loan Lender

1ST CIT. NATIONAL BANK - UPPER SAND
9595 SAWMILL PKWY
POWELL, OH 43065

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/10/2004

Loan Approval Gross Amount

$91,500

Loan Approval from the SBA

Of the total $91,500 loan amount, the SBA guaranteed $77,775.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 8 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like 1st Cit. National Bank - Upper Sand and they will explain how you can get an SBA loan for your company.

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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