Loans for Paint, Varnish, and Supplies Wholesalers

Looking for loans for paint, varnish, and supplies wholesalers? The SBA may be the answer. This $230,000 paint, varnish, and supplies wholesalers loan was issued by an Ohio bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cincinnati, Ohio was able to borrow $230,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $172,500 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTS, VARNISHES, AND SUPPLIES
CINCINNATI, OH 45209

SBA Loan Lender

FIFTH THIRD BANK
38 FOUNTAIN SQ PLZ
CINCINNATI, OH 45263

This commercial loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5198 - Paints, Varnishes, and Supplies

NAICS Code

422950 - Paint, Varnish, and Supplies Wholesalers

Loan Approval Date

12/18/2002

Loan Approval Gross Amount

$230,000

Loan Approval from the SBA

Of the total $230,000 loan amount, the SBA guaranteed $172,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Fifth Third Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Angel Investors

Small Business Banks in Cincinnati, Ohio

Where to Get an SBA Loan Ohio