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May 17, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Aurora, Business Loans > Fifth Third Bank Aurora Business Loans > General Automotive Repair Shops Loan | ||||
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Aurora Small Business Loans from Fifth Third Bank
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SBA Loan from Fifth Third Bank Helps General Automotive Repair Shops CompanyFifth Third Bank has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Aurora, Illinois was able to borrow $87,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $73,950 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender FIFTH THIRD BANK This lender issued this particular commercial loan 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. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 9/27/2002 Loan Approval Gross Amount $87,000 Loan Approval from the SBA Of the total $87,000 loan amount, the SBA guaranteed $73,950. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $87,000 loan. Remember, where there is a will, there is a way! 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: Microlending as a Small Business Funding Source SBA Participating Banks in Aurora, Illinois
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