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December 21, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Indianapolis, Business Loans > Fifth Third Bank Indianapolis Business Loans > Dream Dinners Loan | ||||
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Raising Money in Carmel, Indiana With SBA Loans
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Carmel, IN Entrepreneur Gets SBA Loan to Buy Dream Dinners FranchiseNeed money to buy a Dream Dinners franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Dream Dinners franchise? If so, here's a 2005 SBA franchise loan that you should know about. Fifth Third Bank was the lender and the entrepreneur was based in Carmel, Indiana. SBA Loan Borrower DREAM DINNERS SBA Loan Lender FIFTH THIRD BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722320 - Caterers Loan Approval Date 3/21/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Dream Dinners franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Fifth Third Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Good Banks for Small Business in Indianapolis, Indiana
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