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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 > Book Stores Loan | ||||
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SBA Lenders in Ohio
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Fifth Third Bank SBA Loan to Book Stores CompanyFifth Third Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Ohio entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Newark, Ohio was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank, operating out of Columbus, Ohio. Here are the details on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: BOOK STORES SBA Loan Lender FIFTH THIRD BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5942 - Book Stores NAICS Code 451211 - Book Stores Loan Approval Date 12/31/2002 Loan Approval Gross Amount $72,000 Loan Approval from the SBA Of the total $72,000 loan amount, the SBA guaranteed $61,200. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. 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 increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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 $72,000 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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