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April 30, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > Gift, Novelty, And Souvenir Stores Loan | ||||
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Fifth Third Bank
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SBA Loan from Fifth Third Bank Helps Gift, Novelty, And Souvenir Stores CompanyFifth Third Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Ohio entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Vandalia, Ohio was an essential business goal for this company back in 2004 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: GIFT, NOVELTY, AND SOUVENIR STORES SBA Loan Lender FIFTH THIRD BANK This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 10/29/2004 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Fifth Third Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA 7A Banks in Cincinnati, Ohio
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