Columbus, OH Entrepreneur Gets SBA Loan to Buy Fastsigns Franchise

Need money to purchase a Fastsigns franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fastsigns franchise shouldn't be too tough. In 2002, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in Columbus, Ohio. Because Fastsigns was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

FASTSIGNS
COLUMBUS, OH 43215

SBA Loan Lender

FIFTH THIRD BANK
38 FOUNTAIN SQ PLZ
CINCINNATI, OH 45263

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. 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.

SIC Code

2759 - Commercial Printing

NAICS Code

323119 - Commercial Printing

Loan Approval Date

10/3/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fastsigns franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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.

Related Links:

FASTSIGNS

Borrowing Money from Friends and Family

SBA Participating Banks in Cincinnati, Ohio

SBA Lenders in Ohio