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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Warren, Business Loans > The Huntington National Bank Warren Business Loans > Eating Places Loan | ||||
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SBA 7A Banks in Ohio
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Where to Get Capital for Limited-Service RestaurantsLooking for small business loans for limited-service restaurants? Talk to a banker who works with the SBA. This $100,000 limited-service restaurants loan was issued by an Ohio bank. This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with The Huntington National Bank, out of Warren, Ohio. The loan was granted and they received $100,000 to help grow their Northfield, Ohio business. 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 11/30/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 6 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Huntington National Bank and they will explain how you can get an SBA loan for your company. 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 - Getting Venture Capital SBA 7A Banks for Warren, Ohio Loans
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