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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > General Line Grocery Merchant Wholesalers Loan | ||||
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How Do We Get a Business Loan in Lake Zurich, Illinois?
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How to Get a Loan for General Line Grocery Merchant WholesalersWith these commercial loans for general line grocery merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This general line grocery merchant wholesalers loan for $598,000 was given to an Illinois entrepreneur in 2004. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Fifth Third Bank, out of Cincinnati, Ohio. The loan was granted and they received $598,000 to help grow their Lake Zurich, Illinois business. SBA Loan Borrower COMPANY TYPE: GENERAL LINE GROCERY MERCHANT WHOLESALERS SBA Loan Lender FIFTH THIRD BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424410 - General Line Grocery Merchant Wholesalers Loan Approval Date 6/17/2004 Loan Approval Gross Amount $598,000 Loan Approval from the SBA Of the total $598,000 loan amount, the SBA guaranteed $448,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $598,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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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