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December 22, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Youngstown, Business Loans > The Huntington National Bank Youngstown Business Loans > Eating Places Loan | ||||
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SBA Lenders in Ohio
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Business Loan from The Huntington National Bank Given to Eating Places CompanyAn SBA loan from The Huntington National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New Middletown, Ohio business owner got a $67,500 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Middletown, Ohio was able to borrow $67,500 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $57,375 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender THE HUNTINGTON NATIONAL BANK 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 722211 - Limited-Service Restaurants Loan Approval Date 5/28/2002 Loan Approval Gross Amount $67,500 Loan Approval from the SBA Of the total $67,500 loan amount, the SBA guaranteed $57,375. 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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. While you may be able to find business people willing to loan money, 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. Related Links: Best Banks in Youngstown, Ohio
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