Kettering, Ohio Business Gets SBA-Guaranteed Funding from Fifth Third Bank

An SBA loan from Fifth Third Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Kettering, Ohio business owner got a $211,900 loan.

This business knew how to go about getting a business bank loan. Based in Kettering, Ohio, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Fifth Third Bank, based in Cincinnati, Ohio.

SBA Loan Borrower

COMPANY TYPE: SOUND RECORDING INDUSTRIES
KETTERING, OH 45409

SBA Loan Lender

FIFTH THIRD BANK
38 FOUNTAIN SQ PLZ
CINCINNATI, OH 45263

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

512290 - Sound Recording Industries

Loan Approval Date

11/18/2003

Loan Approval Gross Amount

$211,900

Loan Approval from the SBA

Of the total $211,900 loan amount, the SBA guaranteed $158,925.

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. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fifth Third Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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