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May 2, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > Wolf And Camel, LLC Loan | ||||
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Erlanger, Kentucky Bank Loan
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Fifth Third Bank Provides SBA Loan to Buy Molly Maid FranchiseNeed a loan to purchase a Molly Maid franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Molly Maid franchise may simply require a phone call to a local SBA banker. In 2004, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in Erlanger, Kentucky. Because Molly Maid was registered with the SBA's registry of franchises, this Kentucky small business loan was issued on an expedited basis. SBA Loan Borrower WOLF AND CAMEL, LLC SBA Loan Lender FIFTH THIRD BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561720 - Janitorial Services Loan Approval Date 4/29/2004 Loan Approval Gross Amount $94,000 Loan Approval from the SBA Of the total $94,000 loan amount, the SBA guaranteed $79,900. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Molly Maid franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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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