Borrow Money to Buy an Inches-A-Weigh Franchise

Need a loan to invest in an Inches-A-Weigh franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Cincinnati, Ohio and are interested in buying an Inches-A-Weigh franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Fifth Third Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

INCHES A WEIGH (FARRELL FITNES
CINCINNATI, OH 45255

SBA Loan Lender

FIFTH THIRD BANK
38 FOUNTAIN SQ PLAZA
CINCINNATI, OH 45263

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

8/11/2005

Loan Approval Gross Amount

$65,720

Loan Approval from the SBA

Of the total $65,720 loan amount, the SBA guaranteed $55,862.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Inches-A-Weigh franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fifth Third Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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