Fifth Third Bank SBA Loan to Plumbing, Heating, And Air-Conditioning Contractors Company

Fifth Third Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Michigan entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Fifth Third Bank, out of Grand Rapids, Michigan. The loan was granted and they received $446,000 to help grow their Traverse City, Michigan business.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS
Traverse City, MI 49686

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238220 - Plumbing, Heating, and Air-Conditioning Contractors

Loan Approval Date

8/24/2006

Loan Approval Gross Amount

$446,000

Loan Approval from the SBA

Of the total $446,000 loan amount, the SBA guaranteed $334,500.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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