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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Columbus, Business Loans > Fifth Third Bank Columbus Business Loans > The Ups Store Loan | ||||
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Loans to Buy a Franchise in Ohio
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Ohio Entrepreneur Secures Financing to Buy The UPS Store FranchiseBorrowing money to invest in a UPS Store franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Newark, Ohio and are interested in buying a The UPS Store franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 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 THE UPS STORE SBA Loan Lender FIFTH THIRD BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7389 - Business Services NAICS Code 561910 - Packaging and Labeling Services Loan Approval Date 7/31/2003 Loan Approval Gross Amount $132,800 Loan Approval from the SBA Of the total $132,800 loan amount, the SBA guaranteed $112,880. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a The UPS Store franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. 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. Related Links: Obtaining Funding - How to Borrow Money SBA Approved Banks in Columbus, Ohio
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