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April 30, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Toledo, Business Loans > Fifth Third Bank Toledo Business Loans > Computer Related Services Loan | ||||
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Ohio Bank SBA Loans
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Fifth Third Bank SBA Loan to Computer Related Services CompanyWant an Ohio business loan? Here's one Ohio business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Toledo, Ohio was able to borrow $150,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $112,500 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender FIFTH THIRD BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7379 - Computer Related Services Loan Approval Date 8/17/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 16 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Obtaining Funding - How to Borrow Money Small Business Banks in Toledo, Ohio
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