Wilmington, OH Entrepreneur Gets SBA Loan to Buy Skyline Chili Franchise

Borrowing money to buy a Skyline Chili franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Wilmington, Ohio and are interested in buying a Skyline Chili franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Fifth Third Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SKYLINE CHILI
WILMINGTON, OH 45177

SBA Loan Lender

FIFTH THIRD BANK
38 FOUNTAIN SQ PLZ
CINCINNATI, OH 45263

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and a deep knowledge SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/31/2004

Loan Approval Gross Amount

$790,000

Loan Approval from the SBA

Of the total $790,000 loan amount, the SBA guaranteed $592,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Skyline Chili franchise. At the time of the loan, the company had 10 employees. The SBA loan documents 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?

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $790,000 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:

Skyline Chili, Inc.

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