Fairfield, OH Entrepreneur Gets SBA Loan to Buy Music Go Round Franchise

Need money to invest in a Music Go Round franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Music Go Round franchise loans are available to Fairfield, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Fifth Third Bank, based in Cincinnati, Ohio, issued an SBA franchise loan for a Music Go Round franchise in 2000. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

MUSIC GO ROUND
FAIRFIELD, OH 45014

SBA Loan Lender

FIFTH THIRD BANK
38 FOUNTAIN SQ PLZ
CINCINNATI, OH 45263

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5736 - Musical Instrument Stores

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

2/8/2000

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $93,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Music Go Round franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Music Go Round

Alternative Financing

Good Banks for Small Business in Cincinnati, Ohio

Getting an SBA Loan in Ohio