Fifth Third Bank SBA Loan to Groceries And Related Products Company

Searching for an Illinois small business loan? Here's one Illinois business loan that was approved by the SBA.

This small business needed an SBA business loan in Chicago, Illinois back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Fifth Third Bank, operating out of Traverse City, Michigan. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERIES AND RELATED PRODUCTS
CHICAGO, IL 60629

SBA Loan Lender

FIFTH THIRD BANK
102 W FRONT ST
TRAVERSE CITY, MI 49684

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.

SIC Code

5149 - Groceries and Related Products

Loan Approval Date

6/29/2000

Loan Approval Gross Amount

$27,900

Loan Approval from the SBA

Of the total $27,900 loan amount, the SBA guaranteed $22,320.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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Good Banks for Small Business in Traverse City, Michigan

Getting an SBA Loan in Michigan