Ohio Entrepreneur Secures Financing to Buy Belleria Pizzaria Franchise

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

Getting money to buy a Belleria Pizzaria franchise may simply require a phone call to a local SBA banker. In 2001, Cortland Savings & Bank Co. issued an SBA franchise loan to an entrepreneur in North Lima, Ohio. Because Belleria Pizzaria was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

GUARNIERI'S BELLERIA, INC
NORTH LIMA, OH 44452

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

11/9/2001

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Belleria Pizzaria franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your 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.

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 Cortland Savings & Bank Co. 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:

Obtaining Funding - How to Borrow Money

Good Banks for Small Business in Cortland, Ohio

Getting an SBA Loan in Ohio