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November 22, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Charleston, Business Loans > Fifth Third Bank Charleston Business Loans > Auto And Home Supply Stores Loan | ||||
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WV Small Business Loans from Fifth Third Bank
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SBA Loan from Fifth Third Bank Helps Auto And Home Supply Stores CompanyFifth Third Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a West Virginia entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Charleston, West Virginia was able to borrow $125,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $93,750 of this West Virginia small business loan. SBA Loan Borrower COMPANY TYPE: AUTO AND HOME SUPPLY STORES SBA Loan Lender FIFTH THIRD BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores NAICS Code 441320 - Tire Dealers Loan Approval Date 7/9/2004 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 19 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. This SBA loan was for $125,000. How would you spend $125,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Find an SBA Lender in Charleston, West Virginia
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