Ottaway, Ohio Entrepreneur Gets a Business Loan

Would an Ohio small business loan help your small business to grow and prosper? If so, you may want to talk with this Ohio bank, which offers SBA loans to Ohio entrepreneurs.

This business, based in Ottaway, Ohio, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Fed. Bank - Midwest. We've got the inside scoop on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
OTTAWAY, OH 45875

SBA Loan Lender

FIRST FED. BANK - MIDWEST
405 E MAIN ST
OTTAWA, OH 45875

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/19/2006

Loan Approval Gross Amount

$137,000

Loan Approval from the SBA

Of the total $137,000 loan amount, the SBA guaranteed $116,450.

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 32 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new 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.

We can help you find the best banks for small businesses in Ottaway or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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