Minster Bank SBA Loan to Bowling Centers Company

An SBA loan from Minster Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a St. Marys, Ohio business owner got a $262,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Marys, Ohio was able to borrow $262,000 from Minster Bank. The SBA made the loan possible by guaranteeing $196,500 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: BOWLING CENTERS
ST. MARYS, OH 45885

SBA Loan Lender

MINSTER BANK
95 W 4TH ST
MINSTER, OH 45865

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713950 - Bowling Centers

Loan Approval Date

10/6/2005

Loan Approval Gross Amount

$262,000

Loan Approval from the SBA

Of the total $262,000 loan amount, the SBA guaranteed $196,500.

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 9 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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