Fifth Third Bank Provides SBA Loan to Buy Iga Food Stores Franchise

Need money to buy an Iga Food Stores franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Monrovia, Indiana and are interested in buying an Iga Food Stores franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Fifth Third Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

DILLONS CROSSING IGA
MONROVIA, IN 46157

SBA Loan Lender

FIFTH THIRD BANK
251 N ILLINOIS ST
INDIANAPOLIS, IN 46204

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

11/10/2004

Loan Approval Gross Amount

$1,464,000

Loan Approval from the SBA

Of the total $1,464,000 loan amount, the SBA guaranteed $999,912.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Iga Food Stores franchise. At the time of the loan, the company had 25 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 $1,464,000 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:

Financing Your Business

SBA 7A Lenders in Indianapolis, Indiana

Getting an SBA Loan in Indiana