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November 14, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Rolling Meadows, Business Loans > Fifth Third Bank Rolling Meadows Business Loans > Convenience Stores Loan | ||||
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Fifth Third Bank
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Business Loan from Fifth Third Bank Given to Convenience Stores CompanyAn SBA loan from Fifth Third Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Westmont, Illinois business owner got a $120,000 loan. Getting a small business loan in Westmont, Illinois was an essential business goal for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank, operating out of Rolling Meadows, Illinois. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender FIFTH THIRD BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires 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. NAICS Code 445120 - Convenience Stores Loan Approval Date 7/28/2004 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you want money for new small business in Westmont IL, you ought to talk with a local Westmont SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Westmont businesses. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA Participating Banks in Rolling Meadows, Illinois SBA Participating Banks in Illinois
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