Cincinnati, OH Entrepreneur Gets SBA Loan to Buy Sears Catalog Store Franchise

Borrowing money to buy a Sears Catalog Store franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Sears Catalog Store franchise loans are available to Cincinnati, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Fifth Third Bank, based in Cincinnati, Ohio, issued an SBA franchise loan for a Sears Catalog Store franchise in 2003. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

SEARS CARPET & UPHOLSTERY CARE
CINCINNATI, OH 45241

SBA Loan Lender

FIFTH THIRD BANK
38 FOUNTAIN SQ PLZ
CINCINNATI, OH 45263

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7217 - Carpet and Upholstery Cleaning

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

5/30/2003

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sears Catalog Store franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

This SBA loan was for $145,000. How would you spend $145,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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