Financing for Limited-Service Restaurants

With these commercial loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $15,000 was given to an Indiana entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Palestine, Indiana was able to borrow $15,000 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $7,500 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
NEW PALESTINE, IN 46163

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

6/17/2004

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

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. This SBA loan request indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in New Palestine IN, you ought to talk with a local New Palestine SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Palestine businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from The Huntington National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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