Commercial Loans for Snack and Nonalcoholic Beverage Bars

Looking for commercial loans for snack and nonalcoholic beverage bars? Try the SBA. This $123,500 snack and nonalcoholic beverage bars loan was issued by an Ohio bank.

This business knew how to go about getting a business bank loan. Based in Vine Grove, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was National City Bank, based in Cleveland, Ohio.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
Vine Grove, KY 40175

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

11/21/2006

Loan Approval Gross Amount

$123,500

Loan Approval from the SBA

Of the total $123,500 loan amount, the SBA guaranteed $61,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like National City Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Role of Business Plan When Raising Money

SBA Participating Banks in Cleveland, Ohio

Ohio SBA Bank Lenders