Raising Money for Limited-Service Restaurants

With these bank loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $37,000 was given to an Ohio entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Shaker Heights (city), Ohio, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Home Savings & Loan Co - Youn, based in Youngstown, Ohio.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SHAKER HEIGHTS (CITY), OH 44122

SBA Loan Lender

HOME SAVINGS & LOAN CO - YOUN
275 FEDERAL PLAZA WEST
YOUNGSTOWN, OH 44503

This lender processed this loan for a small business 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

3/16/2007

Loan Approval Gross Amount

$37,000

Loan Approval from the SBA

Of the total $37,000 loan amount, the SBA guaranteed $18,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 100 employees. This SBA loan request indicated that the loan would help retain 100 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $37,000 loan. Remember, where there is a will, there is a way!

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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SBA 7A Banks in Youngstown, Ohio

Ohio SBA Banks