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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Dayton, Business Loans > Fifth Third Bank Dayton Business Loans > Floor Covering Stores Loan | ||||
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SBA 7A Banks That Lend to Ohio Entrepreneurs
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Local Business Gets an Ohio Bank LoanSearching for an Ohio business loan? This Ohio entrepreneur got a business loan, provided by an Ohio bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Springfield, Ohio by studying this loan to a local business, made back in 2005. Banks like Fifth Third Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FLOOR COVERING STORES SBA Loan Lender FIFTH THIRD BANK This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442210 - Floor Covering Stores Loan Approval Date 2/9/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Fifth Third Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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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