Fifth Third Bank Gives SBA Loan to Machine Shops Company

Would an Illinois bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Ohio bank, which offers SBA loans to Illinois entrepreneurs.

You can learn something about getting a small business loan in Rockford, Illinois by studying this loan to a local company, made back in 2005. Banks like Fifth Third Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
Rockford, IL 61109

SBA Loan Lender

FIFTH THIRD BANK
38 FOUNTAIN SQ PLZ
CINCINNATI, OH 45263

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

11/23/2005

Loan Approval Gross Amount

$722,000

Loan Approval from the SBA

Of the total $722,000 loan amount, the SBA guaranteed $541,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 34 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 38 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Rockford or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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