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November 14, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Sarpino's Pizzeria Loan | ||||
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Fifth Third Bank Small Business Franchise Loan
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Arlington Heights, IL Entrepreneur Gets SBA Loan to Buy Sarpino's Pizzeria FranchiseNeed money to invest in a Sarpino's Pizzeria franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Sarpino's Pizzeria franchise may simply require a phone call to a local SBA banker. In 2004, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in Arlington Heights, Illinois. Because Sarpino's Pizzeria was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis. SBA Loan Borrower SARPINO'S PIZZERIA SBA Loan Lender FIFTH THIRD BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/8/2004 Loan Approval Gross Amount $160,000 Loan Approval from the SBA Of the total $160,000 loan amount, the SBA guaranteed $120,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Sarpino's Pizzeria franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the funding would help generate 4 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Fifth Third Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Fifth Third Bank 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: Sarpinos Pizzeria International Inc. Find an SBA Lender in Grand Rapids, Michigan Getting a Business Loan in Michigan
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