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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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SBA 7A Banks in Michigan
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Where to Get Capital for Fitness and Recreational Sports CentersLooking for SBA loans for fitness and recreational sports centers? The SBA may be the answer. This $150,000 fitness and recreational sports centers loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Waterford, Michigan was able to borrow $150,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $105,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender FIFTH THIRD BANK 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 713940 - Fitness and Recreational Sports Centers Loan Approval Date 12/1/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $105,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 3 new jobs and retain 1 existing job. 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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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