Bank Loans for Full-Service Restaurants

Looking for bank loans for full-service restaurants? Talk to a banker who works with the SBA. This $40,000 full-service restaurants loan was issued by an Ohio bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wauseon, Ohio was able to borrow $40,000 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $34,000 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
WAUSEON, OH 43567

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
519 MADISON AVE
TOLEDO, OH 43604

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program involves 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.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/26/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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 15 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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