Limited-Service Restaurants Bank Loans

Looking for bank loans for limited-service restaurants? Talk to a banker who works with the SBA. This $96,100 limited-service restaurants loan was issued by an Ohio bank.

Getting a small business loan in Strongsville, Ohio was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from The Lorain National Bank, operating out of Lorain, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
STRONGSVILLE, OH 44136

SBA Loan Lender

THE LORAIN NATIONAL BANK
457 BROADWAY
LORAIN, OH 44052

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/3/2005

Loan Approval Gross Amount

$96,100

Loan Approval from the SBA

Of the total $96,100 loan amount, the SBA guaranteed $81,685.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 30 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This SBA loan was for $96,100. How would you spend $96,100 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Advice on Getting a Small Business Loan

SBA Banks in Lorain, Ohio

Find an SBA Lender in Ohio