SBA Loan from Fifth Third Bank Helps Engineering Services 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 Springboro, Ohio business owner got a $70,000 loan.

Getting a small business loan in Springboro, Ohio was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank, operating out of Dayton, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
SPRINGBORO, OH 45066

SBA Loan Lender

FIFTH THIRD BANK
110 N MAIN ST
DAYTON, OH 45402

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8711 - Engineering Services

NAICS Code

541330 - Engineering Services

Loan Approval Date

6/7/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Fifth Third Bank and they will explain how you can get an SBA loan for your company.

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:

Find Start-Up Capital

SBA 7A Banks in Dayton, Ohio

SBA Ohio Lenders