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November 21, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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Indiana SBA Loan from Fifth Third Bank
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SBA Loan from Fifth Third Bank Helps Automotive Body, Paint, And Interior Repair And Maintenance 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 Indiana entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Fifth Third Bank, out of Cincinnati, Ohio. The loan was granted and they received $50,000 to help grow their Indianapolis, Indiana business. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender FIFTH THIRD BANK This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 3/20/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Microlending as a Small Business Funding Source
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