Full-Service Restaurants Bank Loans

Looking for bank loans for full-service restaurants? The SBA may be the answer. This $132,500 full-service restaurants loan was issued by an Ohio bank.

This company knew how to go about getting a business bank loan. Based in Venice, Florida, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was National City Bank, based in Cincinnati, Ohio.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
VENICE, FL 34292

SBA Loan Lender

NATIONAL CITY BANK
1 E FOURTH ST
CINCINNATI, OH 45202

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/22/2000

Loan Approval Gross Amount

$132,500

Loan Approval from the SBA

Of the total $132,500 loan amount, the SBA guaranteed $99,375.

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 25 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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