Loan to Buy Belleria Pizzaria Franchise Issued By Cortland Savings & Bank Co.

Borrowing money to purchase a Belleria Pizzaria franchise? Cortland Savings & Bank Co. has a history of making these loans and they are guaranteed by the SBA.

Belleria Pizzaria franchise loans are available to Mineral Ridge, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cortland Savings & Bank Co., based in Cortland, Ohio, issued an SBA franchise loan for a Belleria Pizzaria franchise in 2000. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

BELLERIA PIZZERIA
MINERAL RIDGE, OH 44440

SBA Loan Lender

CORTLAND SAVINGS & BANK CO.
194 W MAIN ST
CORTLAND, OH 44410

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

11/24/2000

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $44,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Belleria Pizzaria franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the business planned 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 loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Direct Public Offerings

SBA 7A Banks in Cortland, Ohio

Getting an SBA Loan in Ohio