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December 19, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Youngstown, Business Loans > Home Savings & Loan Co - Youn Youngstown Business Loans > Full-Service Restaurants Loan | ||||
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What Does It Take to Get a Business Loan in Youngstown, Ohio?
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Small Business Loans for Full-Service RestaurantsWith these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $1,245,000 was given to an Ohio entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Youngstown, Ohio was able to borrow $1,245,000 from Home Savings & Loan Co - Youn. The SBA made the loan possible by guaranteeing $933,750 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender HOME SAVINGS & LOAN CO - YOUN The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/16/2006 Loan Approval Gross Amount $1,245,000 Loan Approval from the SBA Of the total $1,245,000 loan amount, the SBA guaranteed $933,750. 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 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Home Savings & Loan Co - Youn had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Home Savings & Loan Co - Youn made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA 7A Banks in Youngstown, Ohio
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