Fifth Third Bank SBA Loan to Electrical Wiring Supplies Company
Searching for an Ohio small business loan? Here's one Ohio business loan that was approved by the SBA.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cincinnati, Ohio was able to borrow $300,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $225,000 of this Ohio small business loan.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL WIRING SUPPLIES
CINCINNATI, OH 45246
SBA Loan Lender
FIFTH THIRD BANK
38 FOUNTAIN SQ PLZ
CINCINNATI, OH 45263
At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program is designed to give rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5063 - Electrical Wiring Supplies
Loan Approval Date
6/13/2000
Loan Approval Gross Amount
$300,000
Loan Approval from the SBA
Of the total $300,000 loan amount, the SBA guaranteed $225,000.
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 13 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
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:
Accountant's Role in Securing Financing
Where to Get an SBA Loan in Cincinnati, Ohio
Where to Get an SBA Loan Ohio