Lima, Ohio Business Gets SBA-Guaranteed Funding from Fifth Third Bank
Fifth Third Bank has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them.
Getting a small business loan in Lima, Ohio was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank, operating out of Cincinnati, Ohio. Here are the details on this Ohio small business loan.
SBA Loan Borrower
COMPANY TYPE: WOMEN, CHILDREN, AND INFANTS CLOTHING AND ACCESSORIES MERCHANT WHOLESALER
Lima, OH 45806
SBA Loan Lender
FIFTH THIRD BANK
38 FOUNTAIN SQ PLZ
CINCINNATI, OH 45263
This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
424330 - Women, Children, and Infants Clothing and Accessories Merchant Wholesaler
Loan Approval Date
12/15/2005
Loan Approval Gross Amount
$88,400
Loan Approval from the SBA
Of the total $88,400 loan amount, the SBA guaranteed $44,200.
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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.
Getting an SBA Loan For Your Business
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Fifth Third Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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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SBA Participating Banks in Ohio