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November 25, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > Physical Fitness Facilities Loan | ||||
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Business Loan from Fifth Third Bank
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Business Loan from Fifth Third Bank Given to Physical Fitness Facilities CompanyFifth Third Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Florida entrepreneur who tapped into the power of SBA loans. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Fifth Third Bank, out of Cincinnati, Ohio. The loan was granted and they received $150,000 to help grow their Fort Myers, Florida business. SBA Loan Borrower COMPANY TYPE: PHYSICAL FITNESS FACILITIES SBA Loan Lender FIFTH THIRD BANK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7991 - Physical Fitness Facilities NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 3/25/2003 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. We can help you find the best banks for small businesses in Fort Myers or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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:
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