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December 20, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Columbus, Business Loans > Fifth Third Bank Columbus Business Loans > Mr. Electric (mtb Enterprises Loan | ||||
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Business Loans for Galloway Small Business Owners
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Borrow Money to Buy a Mr. Electric FranchiseBorrowing money to invest in a Mr. Electric franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Mr. Electric franchise shouldn't be too tough. In 2004, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in Galloway, Ohio. Because Mr. Electric was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis. SBA Loan Borrower MR. ELECTRIC (MTB ENTERPRISES 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. NAICS Code 235310 - Electrical Contractors Loan Approval Date 6/21/2004 Loan Approval Gross Amount $90,842 Loan Approval from the SBA Of the total $90,842 loan amount, the SBA guaranteed $77,215. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Mr. Electric franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Small Bank Loans in Columbus, Ohio
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