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May 4, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Nashville, Business Loans > Fifth Third Bank Nashville Business Loans > Girls', Children's, And Infants' Outerwear Loan | ||||
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Tennessee SBA Loans from Fifth Third Bank
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Fifth Third Bank SBA Loan to Girls', Children's, And Infants' Outerwear CompanyFifth 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 Tennessee entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Fifth Third Bank, out of Nashville, Tennessee. The loan was granted and they received $31,000 to help grow their Franklin, Tennessee business. SBA Loan Borrower COMPANY TYPE: GIRLS', CHILDREN'S, AND INFANTS' OUTERWEAR SBA Loan Lender FIFTH THIRD BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2369 - Girls', Children's, and Infants' Outerwear Loan Approval Date 3/13/2000 Loan Approval Gross Amount $31,000 Loan Approval from the SBA Of the total $31,000 loan amount, the SBA guaranteed $24,800. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Fifth Third Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Fifth Third Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Family and Friend Investors - Your First Financiers Best Nashville, Tennessee Banks for Small Business Getting a Business Loan in Tennessee
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