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December 19, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Dayton, Business Loans > Fifth Third Bank Dayton Business Loans > Coin-Operated Laundries And Drycleaning Loan | ||||
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Small Business Banks in Ohio
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SBA Loans for Coin-Operated Laundries and DrycleanersLooking for SBA loans for coin-operated laundries and drycleaners? Talk to a banker who works with the SBA. This $103,500 coin-operated laundries and drycleaners loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dayton, Ohio was able to borrow $103,500 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $87,975 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING SBA Loan Lender FIFTH THIRD BANK 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7215 - Coin-Operated Laundries and Drycleaning NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 7/22/2003 Loan Approval Gross Amount $103,500 Loan Approval from the SBA Of the total $103,500 loan amount, the SBA guaranteed $87,975. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $103,500 loan. Remember, you control your own destiny. 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: SBA 7A Lenders in Dayton, Ohio
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