SBA Loan from Fifth Third Bank Helps Industrial Supplies Merchant Wholesalers Company

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 Newark, Ohio business owner got a $333,333 loan.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Fifth Third Bank, out of Cincinnati, Ohio. The loan was granted and they received $333,333 to help grow their Newark, Ohio business.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL SUPPLIES MERCHANT WHOLESALERS
NEWARK, OH 43055

SBA Loan Lender

FIFTH THIRD BANK
38 FOUNTAIN SQ PLZ
CINCINNATI, OH 45263

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423840 - Industrial Supplies Merchant Wholesalers

Loan Approval Date

5/23/2005

Loan Approval Gross Amount

$333,333

Loan Approval from the SBA

Of the total $333,333 loan amount, the SBA guaranteed $249,999.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Fifth Third Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Fifth Third Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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