Columbus, Ohio Bank Lends Money to Limited-Service Restaurants Company in Marion, Ohio

Get to know Columbus, Ohio banks that specialize in small business loans and know how to work with entrepreneurs. The Huntington National Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Marion, Ohio starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from The Huntington National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
Marion, OH 43302

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/26/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The loan application indicated that the loan would help retain 18 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Marion OH, you ought to talk with a local Marion SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Marion 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 The Huntington National Bank 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:

Business Incubators

SBA Approved Banks in Columbus, Ohio

Getting a Business Loan in Ohio